LGT Fund Management Co Ltd. Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

LGT Fund Management Co Ltd. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,383 shares of the company’s stock after selling 1,082 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in PepsiCo were worth $2,702,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Valued Wealth Advisors LLC grew 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 purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC lifted its position in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at approximately $30,000. Fortis Group Advisors LLC raised its position in shares of 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of PepsiCo in the 1st quarter valued at approximately $35,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PEP. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada reduced their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Barclays raised their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. BNP Paribas began coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Finally, TD Cowen reduced their price objective 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. Seven 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $178.19 on Tuesday. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The business’s 50-day moving average price is $171.27 and its two-hundred day moving average price is $171.24. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The company has a market capitalization of $244.76 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

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

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

About PepsiCo

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.