PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in PepsiCo by 26.4%, now holding 78,624 shares valued at approximately $11.79 million as of its latest SEC filing.
• PepsiCo announced a quarterly dividend of $1.4225 per share, resulting in an annualized dividend yield of 3.9% and a payout ratio of 103.64%.
• Analysts have mixed ratings on PepsiCo, with an average rating of "Hold" and price targets ranging from $140.00 to $168.00, reflecting a cautious outlook.

Gulf International Bank UK Ltd cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 26.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,624 shares of the company's stock after selling 28,258 shares during the period. Gulf International Bank UK Ltd's holdings in PepsiCo were worth $11,788,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Elite Financial Inc. bought a new stake in PepsiCo during the first quarter valued at $28,000. Measured Risk Portfolios Inc. bought a new stake in PepsiCo during the fourth quarter valued at $31,000. GKV Capital Management Co. Inc. bought a new stake in PepsiCo during the fourth quarter valued at $38,000. Bridge Generations Wealth Management LLC bought a new stake in PepsiCo during the fourth quarter valued at $38,000. Finally, Sunbeam Capital Management LLC bought a new stake in PepsiCo during the fourth quarter valued at $47,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PEP traded down $0.73 on Thursday, reaching $148.62. The company had a trading volume of 6,890,929 shares, compared to its average volume of 8,484,457. The company has a fifty day moving average of $136.99 and a 200-day moving average of $140.63. The company has a market capitalization of $203.47 billion, a P/E ratio of 27.07, a PEG ratio of 3.91 and a beta of 0.45. 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, Inc. has a one year low of $127.60 and a one year high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The firm had revenue of $22.73 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is currently 103.64%.

Analyst Ratings Changes

Several research firms have weighed in on PEP. UBS Group lowered their target price 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. Bank of America lowered their target price on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. JPMorgan Chase & Co. lowered 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. Finally, Wells Fargo & Company upped their price target on shares of PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of "Hold" and an average price target 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.