PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its PepsiCo stake by 0.6% during Q1, owning 705,022 shares worth approximately $105.71 million after selling 4,164 shares.
• Various institutional investors significantly increased their positions in PepsiCo, with GAMMA Investing LLC raising its stake by 19,106.5% to own 4.59 million shares valued at $688 million.
• PepsiCo recently reported earnings of $2.12 per share, surpassing estimates, and it announced a quarterly dividend of $1.4225 per share, indicating a yield of 3.97%.

Baillie Gifford & Co. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 705,022 shares of the company's stock after selling 4,164 shares during the quarter. Baillie Gifford & Co. owned 0.05% of PepsiCo worth $105,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. Brighton Jones LLC increased its stake in shares of PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after acquiring an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG grew its position in PepsiCo by 2.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after buying an additional 11,538 shares during the period. Quantbot Technologies LP acquired a new position in PepsiCo during the fourth quarter worth about $555,000. Murphy & Mullick Capital Management Corp acquired a new position in PepsiCo during the fourth quarter worth about $59,000. Finally, Financial Engines Advisors L.L.C. acquired a new position in PepsiCo during the fourth quarter worth about $553,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. Bank of America lowered their target price on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Morgan Stanley upped their price target on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Citigroup upped their price target on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a report on Friday, July 18th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Trading Down 0.7%

NASDAQ:PEP traded down $1.06 during trading hours on Friday, reaching $143.45. 6,596,497 shares of the company were exchanged, compared to its average volume of 10,334,833. 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 firm has a market cap of $196.39 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 3.82 and a beta of 0.45. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The stock has a 50 day simple moving average of $133.58 and a 200 day simple moving average of $140.99.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion for 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%. PepsiCo's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 earnings per share. As a group, analysts predict 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. Shareholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is currently 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.