Allstate Corp Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Allstate Corp grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3,086.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,982 shares of the company’s stock after buying an additional 39,696 shares during the quarter. Allstate Corp’s holdings in PepsiCo were worth $6,232,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Collier Financial acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo during the fourth quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter worth $31,000. Bay Harbor Wealth Management LLC acquired a new stake in PepsiCo in the fourth quarter valued at $34,000. Finally, Human Investing LLC acquired a new position in shares of PepsiCo during the 4th quarter worth $39,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of research reports. Royal Bank of Canada began coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price objective on the stock. Barclays cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $168.00 to $156.00 in a research note on Tuesday, March 18th. Wells Fargo & Company cut their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Finally, TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Price Performance

PepsiCo stock opened at $149.27 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $204.72 billion, a P/E ratio of 21.48, a PEG ratio of 3.09 and a beta of 0.52. The firm has a fifty day moving average of $149.25 and a 200-day moving average of $158.17. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

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

PepsiCo Announces Dividend

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

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.