PepsiCo, Inc. $PEP Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 29.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,982 shares of the company’s stock after selling 5,977 shares during the quarter. Perpetual Ltd’s holdings in PepsiCo were worth $1,964,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PEP. Claris Advisors LLC MO grew its holdings in PepsiCo by 14.1% in the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after purchasing an additional 308 shares during the period. Foster Group Inc. grew its stake in shares of PepsiCo by 4.6% during the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after buying an additional 229 shares during the period. Merit Financial Group LLC boosted its holdings in PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after acquiring an additional 36,239 shares during the last quarter. Fulton Bank N.A. boosted its holdings in PepsiCo by 2.5% in the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after acquiring an additional 620 shares during the last quarter. Finally, Naples Global Advisors LLC grew its position in PepsiCo by 2.3% during the second quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock valued at $3,469,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PEP shares. Jefferies Financial Group lifted their price objective on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research note on Tuesday, December 9th. Wells Fargo & Company lifted their price target on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Evercore ISI increased their price objective on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Citigroup lifted their target price on shares of PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Finally, DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research report on Tuesday, October 21st. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $158.75.

PepsiCo Price Performance

PEP stock opened at $148.16 on Friday. The company has a market capitalization of $202.59 billion, a PE ratio of 28.17, a P/E/G ratio of 5.11 and a beta of 0.42. The stock’s 50 day moving average is $148.00 and its two-hundred day moving average is $142.94. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $2.31 EPS. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.