PepsiCo, Inc. (PEP) Shares Sold by World Asset Management Inc
World Asset Management Inc decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,215 shares of the company’s stock after selling 10,982 shares during the quarter. PepsiCo makes up 0.5% of World Asset Management Inc’s holdings, making the stock its 28th biggest position. World Asset Management Inc’s holdings in PepsiCo were worth $15,855,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First National Bank of Mount Dora Trust Investment Services acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $201,000. Bouchey Financial Group Ltd acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $214,000. Oakmont Partners LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $220,000. KCS Wealth Advisory acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $239,000. Finally, White Lighthouse Investment Management Inc. acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $240,000. Institutional investors and hedge funds own 70.93% of the company’s stock.
PepsiCo, Inc. (NASDAQ PEP) opened at $113.60 on Wednesday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.37 and a current ratio of 1.51. PepsiCo, Inc. has a 52 week low of $106.19 and a 52 week high of $122.51. The company has a market cap of $161,300.00, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.69.
PepsiCo declared that its Board of Directors has approved a share repurchase program on Tuesday, February 13th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 2nd will be paid a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, March 1st. PepsiCo’s dividend payout ratio (DPR) is presently 63.26%.
Several analysts have recently issued reports on the stock. TheStreet lowered shares of PepsiCo from a “b-” rating to a “c+” rating in a research report on Thursday, March 1st. SunTrust Banks decreased their price target on shares of PepsiCo from $125.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Jefferies Group reissued a “hold” rating and issued a $113.00 price target on shares of PepsiCo in a research note on Tuesday, February 13th. Finally, Susquehanna Bancshares raised their price target on shares of PepsiCo from $137.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. PepsiCo has a consensus rating of “Hold” and a consensus price target of $123.04.
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PepsiCo Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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