Bank of Nova Scotia Has $74.46 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• The Bank of Nova Scotia has reduced its holdings in PepsiCo, Inc. by 50%, owning 496,644 shares valued at approximately $74.46 million after selling off 496,256 shares in the first quarter.
• PepsiCo reported earnings of $2.12 per share for the last quarter, exceeding analyst estimates of $2.03, with revenues reaching $22.73 billion, a 1% increase year-over-year.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annualized dividend of $5.69 and a dividend yield of 4.1%, with a payout ratio of over 103%.

Bank of Nova Scotia cut its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 50.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 496,644 shares of the company's stock after selling 496,256 shares during the quarter. Bank of Nova Scotia's holdings in PepsiCo were worth $74,464,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legacy Financial Group LLC boosted its position in shares of PepsiCo by 4.9% during the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after buying an additional 71 shares during the last quarter. Pflug Koory LLC lifted its holdings in PepsiCo by 1.0% during the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock worth $1,162,000 after acquiring an additional 76 shares during the period. Hoge Financial Services LLC lifted its holdings in PepsiCo by 2.1% during the first quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock worth $545,000 after acquiring an additional 76 shares during the period. Members Trust Co lifted its holdings in PepsiCo by 1.3% during the first quarter. Members Trust Co now owns 5,941 shares of the company's stock worth $891,000 after acquiring an additional 77 shares during the period. Finally, Fairview Capital Investment Management LLC raised its stake in shares of PepsiCo by 2.3% in the fourth quarter. Fairview Capital Investment Management LLC now owns 3,526 shares of the company's stock valued at $536,000 after buying an additional 78 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 1.0%

PepsiCo stock opened at $139.28 on Friday. The firm has a market cap of $190.69 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 3.67 and a beta of 0.45. The stock has a fifty day simple moving average of $134.63 and a two-hundred day simple moving average of $140.89. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The business had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same quarter last year, the company earned $2.28 EPS. The company's quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

Analyst Ratings Changes

PEP has been the topic of several research reports. Cowen restated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company boosted their price objective on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and an average target price of $158.73.

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.

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