Bridgewater Associates LP Sells 510,356 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bridgewater Associates LP decreased its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 67.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,538 shares of the company's stock after selling 510,356 shares during the period. Bridgewater Associates LP's holdings in PepsiCo were worth $37,641,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PEP. Howard Capital Management Group LLC raised its stake in shares of PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company's stock valued at $777,000 after purchasing an additional 90 shares in the last quarter. Morse Asset Management Inc bought a new position in PepsiCo during the 3rd quarter worth approximately $996,000. Invst LLC increased its holdings in shares of PepsiCo by 4.6% in the 3rd quarter. Invst LLC now owns 3,003 shares of the company's stock valued at $511,000 after acquiring an additional 133 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of PepsiCo during the 3rd quarter valued at approximately $1,611,000. Finally, Te Ahumairangi Investment Management Ltd lifted its stake in PepsiCo by 3.4% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 16,624 shares of the company's stock worth $2,811,000 after purchasing an additional 550 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on PEP. JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a "neutral" rating for the company in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Bank of America restated a "neutral" rating and issued a $155.00 price target (down previously from $185.00) on shares of PepsiCo in a research report on Tuesday. Morgan Stanley dropped their target price on shares of PepsiCo from $185.00 to $168.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada started coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $168.12.

PepsiCo Stock Performance

NASDAQ PEP traded up $2.75 during trading on Friday, hitting $142.84. The company's stock had a trading volume of 6,052,161 shares, compared to its average volume of 6,110,283. The firm has a market cap of $195.88 billion, a P/E ratio of 20.55, a price-to-earnings-growth 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. The firm has a 50 day moving average price of $148.16 and a 200 day moving average price of $154.94. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

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

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a $1.355 dividend. The ex-dividend date was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.79%. PepsiCo's dividend payout ratio (DPR) is presently 77.99%.

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.