Rodgers Brothers Inc. Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Rodgers Brothers Inc. lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,355 shares of the company’s stock after selling 335 shares during the period. Rodgers Brothers Inc.’s holdings in PepsiCo were worth $5,224,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in PepsiCo during the fourth quarter worth approximately $2,729,565,000. Raymond James Financial Inc. acquired a new stake in PepsiCo during the 4th quarter worth $589,307,000. Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. 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 valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $149.27 on Monday. 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, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The business has a fifty day moving average of $149.25 and a 200-day moving average of $157.91. The stock has a market cap of $204.72 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

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

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PEP shares. UBS Group dropped their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Evercore ISI cut their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Citigroup decreased their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. HSBC cut their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $169.88.

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.