Wellington Management Group LLP Trims Stake in PepsiCo, Inc. $PEP

Key Points

• Wellington Management Group LLP reduced its stake in PepsiCo, Inc. by 21.7%, now holding approximately 9.22 million shares valued at about $1.38 billion.
• PepsiCo reported earnings of $2.12 per share for the latest quarter, exceeding analyst estimates, with revenue of $22.73 billion, a 1.0% year-over-year increase.
• The company declared a quarterly dividend of $1.4225 per share, which will be paid on September 30th, representing an annualized yield of 3.8%.

Wellington Management Group LLP lowered its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,218,011 shares of the company's stock after selling 2,550,333 shares during the quarter. Wellington Management Group LLP owned about 0.67% of PepsiCo worth $1,382,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elite Financial Inc. bought a new position in PepsiCo in the first quarter worth approximately $28,000. Measured Risk Portfolios Inc. bought a new position in PepsiCo in the fourth quarter worth approximately $31,000. Sunbeam Capital Management LLC bought a new position in PepsiCo in the fourth quarter worth approximately $47,000. MorganRosel Wealth Management LLC bought a new position in PepsiCo during the 1st quarter worth about $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in PepsiCo during the 1st quarter worth about $58,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Up 1.2%

PEP stock opened at $150.40 on Monday. The firm has a 50 day moving average of $137.39 and a 200 day moving average of $140.48. The stock has a market capitalization of $205.91 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 4.01 and a beta of 0.45. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its 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. The company had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. PepsiCo's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business earned $2.28 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

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

Analyst Upgrades and Downgrades

PEP has been the topic of several recent research reports. Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. UBS Group dropped their target price on shares of 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. dropped their target price on shares of 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 reiterated a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Barclays raised their price target on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.

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