PepsiCo, Inc. (NASDAQ:PEP) Stock Holdings Trimmed by OLD Republic International Corp

OLD Republic International Corp cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 386,800 shares of the company’s stock after selling 12,600 shares during the quarter. PepsiCo comprises 2.5% of OLD Republic International Corp’s holdings, making the stock its 11th biggest position. OLD Republic International Corp’s holdings in PepsiCo were worth $65,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of PepsiCo by 9,623.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after buying an additional 3,026,611 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of PepsiCo during the third quarter worth $329,179,000. Flossbach Von Storch AG raised its holdings in PepsiCo by 121.4% in the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after purchasing an additional 1,495,586 shares during the period. California Public Employees Retirement System boosted its holdings in shares of PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of PepsiCo by 68.0% in the fourth quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock valued at $496,382,000 after purchasing an additional 1,183,371 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PEP stock traded up $1.26 during trading on Friday, hitting $179.32. 865,452 shares of the company’s stock traded hands, compared to its average volume of 5,578,518. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $196.88. The stock has a fifty day moving average price of $170.96 and a two-hundred day moving average price of $168.82. The stock has a market capitalization of $246.53 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 earnings per share. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.02%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

Analysts Set New Price Targets

PEP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their target price on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Jefferies Financial Group raised their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Monday, March 18th. Finally, Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.