LGT Fund Management Co Ltd. Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

LGT Fund Management Co Ltd. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 39.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 19,553 shares of the company’s stock after selling 12,690 shares during the period. LGT Fund Management Co Ltd.’s holdings in PepsiCo were worth $2,932,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Elite Financial Inc. acquired a new stake in shares of PepsiCo during the first quarter valued at about $28,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo in the fourth quarter valued at approximately $31,000. GKV Capital Management Co. Inc. acquired a new position in shares of PepsiCo in the fourth quarter valued at approximately $38,000. Bridge Generations Wealth Management LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at approximately $38,000. Finally, Sunbeam Capital Management LLC acquired a new position in PepsiCo during the 4th quarter worth approximately $47,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $144.87 on Tuesday. The stock has a market cap of $198.34 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.87 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.73. The company’s 50-day moving average price is $135.98 and its 200 day moving average price is $140.57. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the firm posted $2.28 EPS. The company’s revenue was up 1.0% on a year-over-year basis. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is presently 103.64%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group lowered their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday, July 10th. Wells Fargo & Company upped their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Barclays upped their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. Finally, Citigroup upped their price target on shares of PepsiCo from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $158.73.

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.