Varma Mutual Pension Insurance Co Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

Varma Mutual Pension Insurance Co trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,180 shares of the company’s stock after selling 22,520 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in PepsiCo were worth $41,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC increased its holdings in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC boosted its position in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo in the 2nd quarter worth approximately $30,000. Fortis Group Advisors LLC lifted its stake 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 acquiring an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of PepsiCo in the 1st quarter valued at $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the subject of a number of research reports. Royal Bank of Canada decreased 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. BNP Paribas initiated coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Bank of America cut their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Price Performance

Shares of PEP traded down $0.60 during mid-day trading on Friday, hitting $177.34. 6,395,276 shares of the company were exchanged, compared to its average volume of 5,471,998. The stock has a market cap of $243.80 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.98 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The company has a 50 day moving average of $170.96 and a 200-day moving average of $171.15. 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 (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

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

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.