PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Westpac Banking Corp

Key Points

• Westpac Banking Corp has reduced its stock holdings in PepsiCo by 34.7% during the first quarter, now owning 10,436 shares valued at approximately $1.57 million.
• PepsiCo reported a quarterly earnings per share of $2.12, exceeding analysts' expectations, with revenue reaching $22.73 billion, a 1.0% increase from the previous year.
• The company has announced a quarterly dividend of $1.4225 per share, yielding an annualized rate of 3.9%, with a dividend payout ratio of 103.64%.

Westpac Banking Corp decreased its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 34.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,436 shares of the company's stock after selling 5,542 shares during the period. Westpac Banking Corp's holdings in PepsiCo were worth $1,565,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after buying an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after purchasing an additional 11,538 shares during the last quarter. LaSalle St. Investment Advisors LLC increased its holdings in shares of PepsiCo by 2.9% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 3,007 shares of the company's stock valued at $457,000 after purchasing an additional 85 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in PepsiCo during the 4th quarter worth about $10,402,000. Finally, Rossby Financial LCC acquired a new stake in PepsiCo during the 4th quarter worth about $211,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 0.5%

Shares of PepsiCo stock traded down $0.73 during trading hours on Thursday, reaching $148.62. 6,890,929 shares of the company were exchanged, compared to its average volume of 8,484,457. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $179.73. The stock's fifty day moving average is $136.99 and its 200 day moving average is $140.63. 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 $203.47 billion, a PE ratio of 27.07, a PEG ratio of 3.91 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share 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 business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the prior year, the company earned $2.28 earnings per share. The company's revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo's payout ratio is presently 103.64%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. UBS Group dropped their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Cowen reissued a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, Citigroup boosted their target price on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and an average target price of $158.73.

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.