Deseret Mutual Benefit Administrators Has $1.35 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Deseret Mutual Benefit Administrators lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,847 shares of the company’s stock after buying an additional 275 shares during the period. PepsiCo comprises 0.7% of Deseret Mutual Benefit Administrators’ holdings, making the stock its 24th largest position. Deseret Mutual Benefit Administrators’ holdings in PepsiCo were worth $1,345,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEP. State Street Corp increased its position in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of 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 purchasing an additional 2,264,445 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PEP. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays decreased their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 price target on the stock. UBS Group decreased their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, TD Cowen dropped their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Up 3.0 %

PEP stock opened at $153.50 on Friday. The business’s 50 day simple moving average is $148.75 and its 200 day simple moving average is $162.39. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market capitalization of $210.53 billion, a PE ratio of 22.09, a PEG ratio of 3.09 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.65 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 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 analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 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.