Legacy Capital Group California Inc. Purchases 108 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Legacy Capital Group California Inc. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,371 shares of the company’s stock after purchasing an additional 108 shares during the period. Legacy Capital Group California Inc.’s holdings in PepsiCo were worth $209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC increased its position in PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Franklin Resources Inc. boosted its stake in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Evercore ISI decreased their price objective on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. HSBC dropped their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Finally, Barclays cut their target price on PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Price Performance

PepsiCo stock opened at $153.50 on Friday. The firm’s 50-day moving average is $148.75 and its two-hundred day moving average is $162.39. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market capitalization of $210.53 billion, a P/E ratio of 22.09, a P/E/G ratio of 3.02 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the company earned $1.78 EPS. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.31 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.53%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

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.