Tocqueville Asset Management L.P. Has $23.73 Million Stock Position in PepsiCo, Inc. $PEP

Key Points

• Tocqueville Asset Management L.P. sold 66,130 shares of PepsiCo, decreasing its stake by 29.5%, and now holds 158,229 shares valued at approximately $23.73 million.
• PepsiCo's recent quarterly earnings surpassed analyst expectations, reporting $2.12 earnings per share and $22.73 billion in revenue for the quarter.
• The company announced a quarterly dividend of $1.4225 per share, reflecting an annualized dividend yield of 3.8% and a payout ratio of 103.64%.

Tocqueville Asset Management L.P. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 29.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,229 shares of the company's stock after selling 66,130 shares during the period. Tocqueville Asset Management L.P.'s holdings in PepsiCo were worth $23,725,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PEP. Vanguard Group Inc. boosted its stake in PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company's stock valued at $3,969,698,000 after purchasing an additional 1,258,198 shares in the last quarter. Northern Trust Corp increased its holdings in shares of PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in PepsiCo by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock valued at $2,108,585,000 after acquiring an additional 49,699 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in PepsiCo by 7.4% during the 4th quarter. Capital Research Global Investors now owns 12,048,646 shares of the company's stock valued at $1,832,116,000 after acquiring an additional 831,148 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays raised their price target on shares of PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Bank of America cut their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Wells Fargo & Company lifted their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Trading Down 0.6%

NASDAQ:PEP traded down $0.85 during mid-day trading on Monday, hitting $149.55. The company had a trading volume of 9,899,332 shares, compared to its average volume of 7,776,359. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $179.73. The business's fifty day moving average is $137.79 and its two-hundred day moving average is $140.48. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The firm has a market cap of $204.75 billion, a P/E ratio of 27.24, a P/E/G ratio of 4.01 and a beta of 0.45.

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

PepsiCo Announces Dividend

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