1832 Asset Management L.P. Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

1832 Asset Management L.P. cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,249 shares of the company’s stock after selling 1,015 shares during the quarter. 1832 Asset Management L.P.’s holdings in PepsiCo were worth $15,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. LFA Lugano Financial Advisors SA increased its holdings in shares of PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after buying an additional 70 shares during the last quarter. Valued Wealth Advisors LLC boosted its position in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares during the period. Fortis Group Advisors LLC boosted its position in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares during the period. Life Planning Partners Inc purchased a new stake in PepsiCo during the 4th quarter valued at $34,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in PepsiCo during the 1st quarter valued at $35,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

PepsiCo Stock Up 1.0 %

NASDAQ:PEP traded up $1.73 during mid-day trading on Friday, reaching $172.75. The company’s stock had a trading volume of 5,746,255 shares, compared to its average volume of 5,470,916. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.29. The stock has a fifty day moving average of $168.72 and a 200-day moving average of $169.87. The firm has a market capitalization of $237.28 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 2.99 and a beta of 0.52. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada dropped their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. TD Cowen lowered their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $185.53.

PepsiCo 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.