Alberta Investment Management Corp Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Alberta Investment Management Corp reduced its holdings in PepsiCo, Inc. by 10.9% in Q1, selling 14,253 shares, leaving them with 116,341 shares worth approximately $17.44 million.
• PepsiCo's Q2 earnings surpassed expectations, reporting an EPS of $2.12 against estimates of $2.03, and revenue of $22.73 billion, up 1.0% year-over-year.
• The company announced a quarterly dividend of $1.4225 per share, reflecting an annualized dividend yield of 4.1%, with record date set for September 5th.

Alberta Investment Management Corp cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,341 shares of the company's stock after selling 14,253 shares during the period. Alberta Investment Management Corp's holdings in PepsiCo were worth $17,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its holdings in PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC lifted its position in PepsiCo by 4.2% in the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after acquiring an additional 151 shares in the last quarter. Ossiam lifted its position in PepsiCo by 138.9% in the 4th quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after acquiring an additional 42,793 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in shares of PepsiCo during the 1st quarter worth approximately $3,633,000. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after buying an additional 13,461 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research analyst reports. UBS Group decreased their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Wells Fargo & Company boosted their target price on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Royal Bank Of Canada reissued a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. Barclays boosted their price target on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average price target of $158.73.

PepsiCo Trading Up 1.0%

PepsiCo stock traded up $1.36 during mid-day trading on Friday, hitting $139.28. The company's stock had a trading volume of 7,606,047 shares, compared to its average volume of 9,347,638. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The stock has a market cap of $190.69 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.67 and a beta of 0.45. The business has a 50 day moving average price of $134.63 and a 200-day moving average price of $140.89. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 earnings per share. As a group, analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio is presently 103.64%.

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.