Tredje AP fonden Has $55.25 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Tredje AP fonden lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 24.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 334,977 shares of the company’s stock after selling 110,209 shares during the quarter. Tredje AP fonden’s holdings in PepsiCo were worth $55,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PEP. Valued Wealth Advisors LLC lifted its stake in 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 acquiring an additional 69 shares during the last quarter. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the 2nd quarter valued at $30,000. Fortis Group Advisors LLC boosted its holdings in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in PepsiCo during the first quarter worth $35,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PEP opened at $176.87 on Wednesday. The stock’s 50 day simple moving average is $172.97 and its 200-day simple moving average is $171.65. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The stock has a market cap of $243.16 billion, a PE ratio of 25.67, a P/E/G ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $22.59 billion. During the same quarter in the prior year, the company posted $2.09 EPS. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEP. Jefferies Financial Group decreased their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Barclays upped their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company decreased their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently 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.