Prudential PLC Sells 11,113 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Prudential PLC sold 11,113 shares of PepsiCo, Inc., reducing its holdings by 77.1%, now owning just 3,295 shares valued at $494,000.
• PepsiCo recently announced a quarterly dividend of $1.4225 per share, representing an annualized amount of $5.69 and a dividend yield of 3.8%.
• PepsiCo's stock is currently trading at $150.40, and analysts have varying price targets with a consensus target price of $158.73.

Prudential PLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 77.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,295 shares of the company's stock after selling 11,113 shares during the quarter. Prudential PLC's holdings in PepsiCo were worth $494,000 at the end of the most recent quarter.

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

PepsiCo Stock Up 1.2%

PEP stock opened at $150.40 on Friday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $179.73. 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's fifty day simple moving average is $137.39 and its two-hundred day simple moving average is $140.63. The stock has a market cap of $205.91 billion, a P/E ratio of 27.40, a P/E/G ratio of 3.96 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 EPS. Analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo's dividend payout ratio is presently 103.64%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Morgan Stanley lifted their target price on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. cut their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Bank of America cut their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Finally, Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $158.73.

PepsiCo Company 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.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.