PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Allstate Corp

Allstate Corp raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3,086.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 40,982 shares of the company’s stock after buying an additional 39,696 shares during the period. Allstate Corp’s holdings in PepsiCo were worth $6,232,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Collier Financial acquired a new position in PepsiCo in the fourth quarter worth about $28,000. Creative Capital Management Investments LLC bought a new position in PepsiCo during the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter valued at approximately $34,000. Finally, Human Investing LLC bought a new position in PepsiCo during the fourth quarter worth $39,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the topic of a number of research reports. Royal Bank of Canada assumed coverage on shares of PepsiCo in a report on Tuesday, February 4th. They set a $172.00 target price on the stock. Evercore ISI lowered their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Barclays downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $168.00 to $156.00 in a research report on Tuesday, March 18th. Morgan Stanley dropped their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $169.88.

PepsiCo Stock Performance

Shares of PEP opened at $149.27 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The stock has a market capitalization of $204.72 billion, a P/E ratio of 21.48, a P/E/G ratio of 3.09 and a beta of 0.52. The firm’s 50 day moving average is $149.25 and its 200-day moving average is $158.17. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.63%. PepsiCo’s dividend payout ratio is currently 77.99%.

PepsiCo 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.