Intech Investment Management LLC Has $9.80 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Intech Investment Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,978 shares of the company’s stock after selling 13,753 shares during the quarter. Intech Investment Management LLC’s holdings in PepsiCo were worth $9,797,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PEP. Norges Bank acquired a new stake in PepsiCo in the fourth quarter worth $2,686,139,000. International Assets Investment Management LLC grew its holdings in PepsiCo by 9,623.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after purchasing an additional 3,026,611 shares during the period. Flossbach Von Storch AG grew its holdings in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the period. California Public Employees Retirement System grew its holdings in PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares during the period. Finally, Franklin Resources Inc. grew its holdings in PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on PEP shares. Barclays raised their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company dropped their price objective 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. Bank of America dropped their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, Morgan Stanley dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $185.53.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

PepsiCo Stock Performance

PEP stock traded down $1.01 during mid-day trading on Friday, hitting $169.36. The company had a trading volume of 5,332,848 shares, compared to its average volume of 5,599,835. The firm has a market cap of $232.63 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.93 and a beta of 0.52. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.68 and a current ratio of 0.83. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The stock’s fifty day moving average price is $169.91 and its two-hundred day moving average price is $169.89.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.09 earnings per share. On average, analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $1.355 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.20%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

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.