Mackenzie Financial Corp Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Mackenzie Financial Corp reduced its stake in PepsiCo by 24.4%, selling 330,491 shares during the first quarter, and now holds just over 1 million shares, valued at approximately $153.7 million.
• Despite mixed analyst ratings with price targets ranging from $139.00 to $175.00, PepsiCo currently holds an average rating of "Hold" with a consensus price target of $158.73.
• PepsiCo announced a quarterly dividend of $1.4225, representing an annual yield of 3.95%, with a payout ratio of over 103%.

Mackenzie Financial Corp lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,025,378 shares of the company's stock after selling 330,491 shares during the quarter. Mackenzie Financial Corp owned approximately 0.07% of PepsiCo worth $153,745,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lokken Investment Group LLC raised its holdings in shares of PepsiCo by 0.9% during the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after acquiring an additional 70 shares in the last quarter. Legacy Financial Group LLC boosted its position in shares of PepsiCo by 4.9% during the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after acquiring an additional 71 shares during the last quarter. Pflug Koory LLC boosted its position in shares of PepsiCo by 1.0% during the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after acquiring an additional 76 shares during the last quarter. Hoge Financial Services LLC boosted its position in shares of PepsiCo by 2.1% during the 1st quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock valued at $545,000 after acquiring an additional 76 shares during the last quarter. Finally, Members Trust Co boosted its position in shares of PepsiCo by 1.3% during the 1st quarter. Members Trust Co now owns 5,941 shares of the company's stock valued at $891,000 after acquiring an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Trading Up 1.1%

Shares of PEP stock traded up $1.55 on Friday, reaching $139.47. 3,375,795 shares of the company's stock were exchanged, compared to its average volume of 8,565,574. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week 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. The stock has a market capitalization of $190.94 billion, a PE ratio of 25.41, a P/E/G ratio of 3.81 and a beta of 0.45. The company's fifty day simple moving average is $134.43 and its 200 day simple moving average is $140.93.

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

PepsiCo Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group lowered their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Bank of America lowered their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $158.73.

About PepsiCo

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.