RWC Asset Management LLP Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• RWC Asset Management LLP reduced its stake in PepsiCo, Inc. by 4.3%, holding 203,559 shares after selling 9,234 shares in the first quarter.
• PepsiCo recently declared a quarterly dividend of $1.4225 per share, representing an annualized dividend of $5.69 and a yield of 3.97%.
• Analysts have mixed views on PepsiCo's stock, with one sell rating, fifteen hold ratings, and four buy ratings, alongside a consensus target price of $158.73.

RWC Asset Management LLP reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,559 shares of the company's stock after selling 9,234 shares during the quarter. PepsiCo makes up 1.6% of RWC Asset Management LLP's holdings, making the stock its 17th largest position. RWC Asset Management LLP's holdings in PepsiCo were worth $30,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in PepsiCo in the fourth quarter valued at about $28,000. Elite Financial Inc. purchased a new stake in PepsiCo in the first quarter valued at about $28,000. Prudent Man Investment Management Inc. purchased a new stake in PepsiCo in the fourth quarter valued at about $30,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo in the fourth quarter valued at about $31,000. Finally, Summit Securities Group LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at about $33,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Citigroup increased their price objective on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company increased 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. One 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $158.73.

PepsiCo Stock Performance

Shares of PEP stock opened at $143.45 on Friday. The company has a market capitalization of $196.39 billion, a P/E ratio of 26.13, a P/E/G ratio of 3.82 and a beta of 0.45. The business's 50 day moving average is $133.58 and its two-hundred day moving average is $140.99. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion for 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%. PepsiCo's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.28 earnings per share. Analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared 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 is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.97%. PepsiCo's dividend payout ratio is currently 103.64%.

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.

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