PepsiCo, Inc. (NASDAQ:PEP) Holdings Trimmed by Main Street Group LTD

Main Street Group LTD cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,345 shares of the company’s stock after selling 76 shares during the quarter. Main Street Group LTD’s holdings in PepsiCo were worth $708,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of PepsiCo during the fourth quarter worth $2,686,139,000. Franklin Resources Inc. lifted its stake in PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after buying an additional 1,105,127 shares during the period. Dimensional Fund Advisors LP increased its position in shares of PepsiCo by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,644,059 shares of the company’s stock worth $1,128,413,000 after acquiring an additional 375,963 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of PepsiCo by 15.7% during the fourth quarter. Stifel Financial Corp now owns 5,121,600 shares of the company’s stock valued at $869,869,000 after acquiring an additional 693,873 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP traded down $0.60 during mid-day trading on Friday, hitting $177.34. The company’s stock had a trading volume of 6,395,276 shares, compared to its average volume of 5,471,998. The stock’s 50-day moving average is $170.96 and its two-hundred day moving average is $171.13. The firm has a market capitalization of $243.59 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.98 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada reduced their price target 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. Finally, Morgan Stanley dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and an average price target 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.