Manning & Napier Group LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

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Manning & Napier Group LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 61.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,102 shares of the company’s stock after selling 302,990 shares during the quarter. Manning & Napier Group LLC’s holdings in PepsiCo were worth $27,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. McClarren Financial Advisors Inc. bought a new stake in PepsiCo in the fourth quarter valued at $27,000. Emerson Wealth Management LLC bought a new stake in PepsiCo in the first quarter valued at $28,000. PrairieView Partners LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at $30,000. Inspire Advisors LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at $31,000. Finally, Interactive Financial Advisors bought a new stake in shares of PepsiCo during the 4th quarter valued at $33,000. 69.94% of the stock is currently owned by institutional investors.

Shares of NASDAQ:PEP opened at $145.79 on Tuesday. PepsiCo, Inc. has a fifty-two week low of $126.53 and a fifty-two week high of $148.77. The business has a 50-day simple moving average of $141.53 and a two-hundred day simple moving average of $140.48. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.77 and a current ratio of 0.93. The firm has a market cap of $201.43 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 3.63 and a beta of 0.57.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 14th. The company reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.09. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The business had revenue of $14.82 billion during the quarter, compared to analyst estimates of $14.54 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. PepsiCo’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts predict that PepsiCo, Inc. will post 5.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th were given a $1.0225 dividend. This represents a $4.09 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, March 4th. PepsiCo’s dividend payout ratio (DPR) is 73.96%.

PEP has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of PepsiCo from $158.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, April 22nd. Zacks Investment Research upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a report on Friday, February 12th. UBS Group upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $165.00 in a report on Tuesday, April 27th. Royal Bank of Canada cut shares of PepsiCo from an “outperform” rating to a “sector perform” rating and set a $153.00 target price on the stock. in a report on Monday, January 4th. They noted that the move was a valuation call. Finally, Wolfe Research began coverage on shares of PepsiCo in a research note on Monday, April 19th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. PepsiCo presently has an average rating of “Hold” and an average target price of $149.23.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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