PepsiCo, Inc. $PEP Shares Sold by Quinn Opportunity Partners LLC

Key Points

• Quinn Opportunity Partners LLC reduced its stake in PepsiCo by 18.7% in Q3, selling 13,259 shares and now holds 57,786 shares valued at about $8.115 million.
• PepsiCo's board authorized a $10.0 billion share buyback (about 4.7% of shares) and declared a quarterly dividend of $1.4225 per share (annualized $5.69, ~3.6% yield).
• The company beat quarterly estimates with $2.26 EPS versus $2.24 expected and $29.34 billion in revenue versus $28.96 billion expected; analysts' consensus is a "Hold" with an average target of $169.

Quinn Opportunity Partners LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 18.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,786 shares of the company's stock after selling 13,259 shares during the quarter. Quinn Opportunity Partners LLC's holdings in PepsiCo were worth $8,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PEP. Norges Bank acquired a new position in shares of PepsiCo during the second quarter worth about $2,330,594,000. Laurel Wealth Advisors LLC grew its stake in shares of PepsiCo by 14,420.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company's stock valued at $513,726,000 after buying an additional 3,863,893 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company's stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the period. Franklin Resources Inc. lifted its position in PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company's stock worth $2,056,797,000 after acquiring an additional 2,541,455 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in PepsiCo by 112.6% during the 2nd quarter. First Trust Advisors LP now owns 4,040,079 shares of the company's stock worth $533,452,000 after acquiring an additional 2,139,847 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.6%

PEP stock opened at $159.88 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The firm has a 50 day simple moving average of $156.71 and a 200-day simple moving average of $149.68. The company has a market capitalization of $218.50 billion, a P/E ratio of 26.65, a PEG ratio of 3.05 and a beta of 0.39. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Monday, February 2nd. The company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.24 by $0.02. The firm had revenue of $29.34 billion for the quarter, compared to the consensus estimate of $28.96 billion. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The firm's revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 EPS. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $1.4225 per share. The ex-dividend date is Friday, March 6th. This represents a $5.69 annualized dividend and a yield of 3.6%. PepsiCo's dividend payout ratio is presently 94.83%.

PepsiCo announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on PEP. Rothschild & Co Redburn increased their price objective on shares of PepsiCo from $120.00 to $130.00 and gave the company a "sell" rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $164.00 to $176.00 and gave the company an "overweight" rating in a research note on Wednesday, February 4th. Citigroup raised their price target on shares of PepsiCo from $170.00 to $182.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. Evercore boosted their price objective on shares of PepsiCo from $152.00 to $165.00 in a report on Wednesday, February 4th. Finally, UBS Group reissued a "buy" rating and issued a $190.00 price objective on shares of PepsiCo in a research report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $169.00.

About PepsiCo

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.