Jennison Associates LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,044,411 shares of the company's stock after selling 49,816 shares during the quarter. Jennison Associates LLC owned about 0.08% of PepsiCo worth $177,602,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Meixler Investment Management Ltd. boosted its stake in shares of PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company's stock valued at $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC boosted its stake in PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company's stock valued at $453,000 after purchasing an additional 59 shares during the period. Global Wealth Strategies & Associates increased its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after acquiring an additional 59 shares during the period. Bank of Stockton lifted its holdings in PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company's stock worth $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC lifted its holdings in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company's stock valued at $1,481,000 after buying an additional 60 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.
PepsiCo Trading Up 1.4 %
PepsiCo stock traded up $2.19 during trading hours on Wednesday, reaching $158.91. The stock had a trading volume of 3,289,344 shares, compared to its average volume of 5,475,551. The company has a fifty day simple moving average of $170.00 and a 200-day simple moving average of $171.24. The stock has a market cap of $218.02 billion, a PE ratio of 23.36, a PEG ratio of 2.96 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the firm earned $2.25 earnings per share. PepsiCo's revenue was down .6% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.
PepsiCo Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo's payout ratio is 79.94%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PEP. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Redburn Atlantic raised PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $183.92.
View Our Latest Analysis on PepsiCo
PepsiCo Profile
(
Free Report)
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.
See Also
Before you consider PepsiCo, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PepsiCo wasn't on the list.
While PepsiCo currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
