Legacy Capital Group California Inc. Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Legacy Capital Group California Inc. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PEP. Suncoast Equity Management lifted its holdings in PepsiCo by 1.1% in the 4th quarter. Suncoast Equity Management now owns 15,154 shares of the company’s stock worth $2,304,000 after buying an additional 162 shares in the last quarter. Nicholson Wealth Management Group LLC grew its holdings in PepsiCo by 48.8% during the fourth quarter. Nicholson Wealth Management Group LLC now owns 15,120 shares of the company’s stock worth $2,299,000 after acquiring an additional 4,962 shares during the period. Tandem Investment Advisors Inc. raised its holdings in shares of PepsiCo by 7.8% in the 4th quarter. Tandem Investment Advisors Inc. now owns 1,635 shares of the company’s stock worth $249,000 after purchasing an additional 118 shares in the last quarter. Mattern Capital Management LLC increased its holdings in shares of PepsiCo by 6.6% in the fourth quarter. Mattern Capital Management LLC now owns 53,256 shares of the company’s stock valued at $8,098,000 after buying an additional 3,315 shares in the last quarter. Finally, Flossbach Von Storch SE lifted its holdings in shares of PepsiCo by 0.8% during the fourth quarter. Flossbach Von Storch SE now owns 5,112,536 shares of the company’s stock valued at $777,412,000 after purchasing an additional 41,004 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Morgan Stanley reduced their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays reduced their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $153.50 on Friday. The firm has a market capitalization of $210.53 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 3.02 and a beta of 0.54. The stock’s 50 day moving average is $148.75 and its 200-day moving average is $162.39. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the firm posted $1.78 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 8.31 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

About PepsiCo

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.