Lazard Freres Gestion S.A.S. Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Lazard Freres Gestion S.A.S. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,159 shares of the company's stock after selling 19,806 shares during the period. Lazard Freres Gestion S.A.S.'s holdings in PepsiCo were worth $31,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company's stock valued at $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. Swedbank AB increased its position in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company's stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the period. PineStone Asset Management Inc. raised its stake in shares of PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company's stock worth $452,003,000 after buying an additional 1,523,631 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company's stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the period. Finally, Legal & General Group Plc grew its holdings in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company's stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Trading Down 0.5 %

NASDAQ PEP traded down $0.89 during mid-day trading on Tuesday, reaching $162.16. 4,653,482 shares of the stock were exchanged, compared to its average volume of 5,497,072. The business's fifty day simple moving average is $168.43 and its 200 day simple moving average is $170.66. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market capitalization of $222.48 billion, a PE ratio of 23.92, a PEG ratio of 3.02 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.25 earnings per share. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, December 6th. PepsiCo's dividend payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEP. Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. TD Cowen lowered PepsiCo from a "buy" rating to a "hold" rating and decreased their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $183.92.

PepsiCo Company 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.