Martingale Asset Management L P Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Martingale Asset Management L P lowered its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,199 shares of the company's stock after selling 7,478 shares during the quarter. Martingale Asset Management L P's holdings in PepsiCo were worth $27,553,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. APG Asset Management N.V. boosted its stake in shares of PepsiCo by 292.9% during the fourth quarter. APG Asset Management N.V. now owns 1,559,081 shares of the company's stock valued at $228,946,000 after purchasing an additional 1,162,315 shares during the period. Bernard Wealth Management Corp. bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $156,000. Renaissance Technologies LLC bought a new stake in PepsiCo during the 4th quarter valued at $74,975,000. Bank of Nova Scotia lifted its holdings in shares of PepsiCo by 129.7% in the 4th quarter. Bank of Nova Scotia now owns 992,900 shares of the company's stock worth $150,994,000 after buying an additional 560,702 shares during the period. Finally, Canopy Partners LLC raised its holdings in shares of PepsiCo by 5.5% in the fourth quarter. Canopy Partners LLC now owns 6,816 shares of the company's stock valued at $1,036,000 after acquiring an additional 354 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP traded up $0.29 during mid-day trading on Friday, reaching $144.43. The company had a trading volume of 8,560,319 shares, compared to its average volume of 6,088,216. The stock has a 50 day moving average of $148.37 and a two-hundred day moving average of $155.68. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $198.06 billion, a P/E ratio of 20.78, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a 52-week low of $138.33 and a 52-week high of $183.41.

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PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business earned $1.78 earnings per share. The firm's revenue was down .2% on a year-over-year basis. On average, analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. PepsiCo's dividend payout ratio (DPR) is presently 77.99%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays lowered shares of PepsiCo from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $168.00 to $156.00 in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. BNP Paribas lowered their price target on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Finally, Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their target price for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $169.88.

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.