West Coast Financial LLC Has $6.26 Million Stake in Pepsico, Inc. (PEP)
West Coast Financial LLC decreased its position in Pepsico, Inc. (NYSE:PEP) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,915 shares of the company’s stock after selling 819 shares during the period. Pepsico accounts for approximately 2.0% of West Coast Financial LLC’s portfolio, making the stock its 11th largest position. West Coast Financial LLC’s holdings in Pepsico were worth $6,255,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Pepsico during the fourth quarter valued at $1,492,411,000. Asset Management One Co. Ltd. increased its stake in Pepsico by 692.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,564,260 shares of the company’s stock valued at $268,372,000 after buying an additional 2,240,572 shares during the last quarter. Fiera Capital Corp increased its stake in Pepsico by 217.7% in the fourth quarter. Fiera Capital Corp now owns 2,417,934 shares of the company’s stock valued at $252,989,000 after buying an additional 1,656,939 shares during the last quarter. Renaissance Technologies LLC increased its stake in Pepsico by 179.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,276,462 shares of the company’s stock valued at $238,186,000 after buying an additional 1,462,000 shares during the last quarter. Finally, Equity Investment Corp Acquisition Inc acquired a new stake in Pepsico during the fourth quarter valued at approximately $134,420,000. 70.34% of the stock is owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (NYSE PEP) opened at 117.12 on Tuesday. The company has a 50-day moving average of $115.40 and a 200 day moving average of $109.78. The company has a market cap of $167.31 billion, a PE ratio of 25.24 and a beta of 0.68. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.14.
Pepsico (NYSE:PEP) last posted its earnings results on Wednesday, April 26th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. The company had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $11.98 billion. Pepsico had a return on equity of 58.42% and a net margin of 10.66%. Pepsico’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. On average, analysts anticipate that Pepsico, Inc. will post $5.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.75%. This is an increase from Pepsico’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, May 31st. Pepsico’s payout ratio is presently 69.40%.
Several research analysts recently weighed in on the stock. Royal Bank Of Canada restated a “hold” rating and set a $115.00 price target on shares of Pepsico in a report on Thursday, March 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $127.00 target price on shares of Pepsico in a research note on Friday, May 19th. Credit Suisse Group boosted their price target on shares of Pepsico from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, March 23rd. BMO Capital Markets reissued a “buy” rating and issued a $115.00 price target on shares of Pepsico in a research report on Wednesday, March 22nd. Finally, Vetr raised shares of Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 price target on the stock in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $120.66.
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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