PepsiCo, Inc. (NASDAQ:PEP) Stock Position Trimmed by Vestcor Inc

Key Points

• Vestcor Inc has reduced its stake in PepsiCo by 3.1%, selling 5,110 shares and now holding a total of 162,024 shares, valued at approximately $24.29 million.
• PepsiCo announced a quarterly dividend of $1.4225 per share, yielding 3.95% annually and with a payout ratio of 103.64%.
• Analysts have mixed sentiments on PepsiCo, with the company receiving several target price adjustments, resulting in a consensus target price of $158.73.

Vestcor Inc decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,024 shares of the company's stock after selling 5,110 shares during the quarter. PepsiCo accounts for about 0.8% of Vestcor Inc's holdings, making the stock its 22nd biggest position. Vestcor Inc's holdings in PepsiCo were worth $24,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. increased its stake in shares of PepsiCo by 3.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after acquiring an additional 21,859 shares during the last quarter. Ignite Planners LLC boosted its holdings in shares of PepsiCo by 4.2% in the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after purchasing an additional 151 shares during the last quarter. Ossiam grew its stake in shares of PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after buying an additional 42,793 shares during the period. Graybill Wealth Management LTD. purchased a new position in shares of PepsiCo in the 1st quarter worth $3,633,000. Finally, OMERS ADMINISTRATION Corp boosted its holdings in PepsiCo by 12.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after acquiring an additional 13,461 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PEP shares. 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 reaffirmed a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $148.00 price target on shares of PepsiCo in a research report on Tuesday, June 24th. Finally, UBS Group cut their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $158.73.

PepsiCo Stock Down 0.7%

PEP stock traded down $1.03 during mid-day trading on Wednesday, hitting $142.86. 9,730,855 shares of the company were exchanged, compared to its average volume of 8,992,737. The company has a market capitalization of $195.59 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 3.83 and a beta of 0.45. The firm has a fifty day simple moving average of $134.27 and a 200 day simple moving average of $140.98. 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 twelve month low of $127.60 and a twelve month high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 EPS 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 analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The business's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.28 EPS. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.98%. PepsiCo's 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.