Woodley Farra Manion Portfolio Management Inc. Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Woodley Farra Manion Portfolio Management Inc. has reduced its stake in PepsiCo by 75%, now holding shares valued at $393,000.
• PepsiCo reported earnings of $2.12 per share for the last quarter, exceeding estimates of $2.03 and generating revenues of $22.73 billion.
• The company declared a quarterly dividend of $1.4225 per share, with an annualized yield of 3.95%, despite having a high dividend payout ratio of 103.64%.

Woodley Farra Manion Portfolio Management Inc. lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 75.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,624 shares of the company's stock after selling 7,859 shares during the period. Woodley Farra Manion Portfolio Management Inc.'s holdings in PepsiCo were worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. Asset Management One Co. Ltd. raised its holdings in PepsiCo by 3.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC increased its holdings in 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 acquiring an additional 151 shares during the last quarter. Ossiam grew its holdings in 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 in the last quarter. Graybill Wealth Management LTD. bought a new position in shares of PepsiCo during the 1st quarter valued at approximately $3,633,000. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after buying an additional 13,461 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PEP shares. UBS Group cut 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. Royal Bank Of Canada restated a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. Citigroup lifted their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. reduced their target price 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. Finally, Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $158.73.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $1.03 on Wednesday, reaching $142.86. 9,730,855 shares of the stock were exchanged, compared to its average volume of 8,992,737. The business has a 50 day moving average price of $134.27 and a two-hundred day moving average price of $140.98. The firm has a market capitalization of $195.59 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 3.83 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $180.91. 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 (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

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.