LGT Fund Management Co Ltd. Sells 12,690 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• LGT Fund Management Co Ltd. has reduced its position in PepsiCo, Inc. by 39.4%, selling 12,690 shares during the first quarter and now holding 19,553 shares valued at approximately $2.93 million.
• Several analysts have revised their price targets for PepsiCo, with Wells Fargo increasing it from $140.00 to $154.00 while maintaining an "equal weight" rating.
• PepsiCo is set to pay a quarterly dividend of $1.4225 on September 30th, reflecting an annualized dividend yield of 3.9% and a payout ratio of 103.64%.

LGT Fund Management Co Ltd. lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 39.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,553 shares of the company's stock after selling 12,690 shares during the period. LGT Fund Management Co Ltd.'s holdings in PepsiCo were worth $2,932,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of PepsiCo by 12.4% in 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 lifted its holdings in PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after purchasing an additional 11,538 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in PepsiCo in the 4th quarter worth about $1,514,000. Savvy Advisors Inc. grew its holdings in PepsiCo by 91.5% during the 4th quarter. Savvy Advisors Inc. now owns 6,205 shares of the company's stock valued at $944,000 after buying an additional 2,964 shares in the last quarter. Finally, Cahaba Wealth Management Inc. increased its position in shares of PepsiCo by 3.4% during the fourth quarter. Cahaba Wealth Management Inc. now owns 4,874 shares of the company's stock valued at $741,000 after buying an additional 162 shares during the period. Institutional investors own 73.07% of the company's stock.

PepsiCo Price Performance

NASDAQ PEP traded up $2.00 on Tuesday, reaching $146.87. 7,668,581 shares of the company's stock traded hands, compared to its average volume of 9,272,219. The stock has a market cap of $201.08 billion, a PE ratio of 26.75, a P/E/G ratio of 3.86 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.73. The stock has a 50-day simple moving average of $136.29 and a 200 day simple moving average of $140.61. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion for 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%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 EPS. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

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 given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PEP shares. UBS Group reduced their price objective 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 price target on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Barclays boosted their target price on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average 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.