USS Investment Management Ltd cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 383,321 shares of the company's stock after selling 325,157 shares during the period. USS Investment Management Ltd's holdings in PepsiCo were worth $58,286,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in PepsiCo in the 4th quarter valued at $2,729,565,000. Raymond James Financial Inc. purchased a new position in PepsiCo during the fourth quarter worth about $589,307,000. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after acquiring an additional 1,376,133 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of PepsiCo by 360.0% during the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company's stock worth $258,158,000 after acquiring an additional 1,328,672 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PEP has been the topic of several recent analyst reports. BNP Paribas cut their price objective on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. CICC Research reiterated a "market perform" rating on shares of PepsiCo in a report on Friday, February 7th. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their target price for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Royal Bank of Canada reissued a "sector perform" rating and set a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $184.00 to $178.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $160.69.
Read Our Latest Stock Analysis on PEP
PepsiCo Stock Down 1.3%
Shares of PEP stock traded down $1.65 during mid-day trading on Wednesday, reaching $130.15. 9,238,122 shares of the company were exchanged, compared to its average volume of 6,432,722. PepsiCo, Inc. has a fifty-two week low of $127.87 and a fifty-two week high of $182.13. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market capitalization of $178.45 billion, a P/E ratio of 18.73, a P/E/G ratio of 3.09 and a beta of 0.47. The business's 50 day simple moving average is $140.35 and its 200 day simple moving average is $148.94.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. Research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is currently 83.68%.
About PepsiCo
(
Free Report)
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.
See Also
Before you consider PepsiCo, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PepsiCo wasn't on the list.
While PepsiCo currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
