Red Cedar Investment Management LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Red Cedar Investment Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,743 shares of the company’s stock after selling 657 shares during the period. Red Cedar Investment Management LLC’s holdings in PepsiCo were worth $1,634,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. International Assets Investment Management LLC lifted its holdings in PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. State Street Corp lifted its holdings in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Swedbank AB increased its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of PepsiCo by 360.0% in the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after acquiring an additional 1,328,672 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $143.39 on Friday. The business has a 50-day moving average of $150.09 and a 200 day moving average of $163.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70. The stock has a market capitalization of $196.66 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is presently 77.99%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company cut their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada began coverage on PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $171.47.

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.