OVERSEA CHINESE BANKING Corp Ltd Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,783 shares of the company’s stock after selling 5,241 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in PepsiCo were worth $3,616,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in shares of PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after buying an additional 870,451 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its position in PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares during the period. Janus Henderson Group PLC increased its stake in shares of PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares in the last quarter. IHT Wealth Management LLC raised its position in shares of PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the period. Finally, Guinness Asset Management LTD lifted its stake in shares of PepsiCo by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock valued at $188,031,000 after buying an additional 61,541 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PEP shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Citigroup reduced their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada started coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price objective for the company. TD Cowen reduced their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Trading Down 0.6 %

Shares of PEP opened at $148.11 on Thursday. The firm’s 50 day simple moving average is $148.97 and its 200 day simple moving average is $159.50. The company has a market capitalization of $203.13 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. PepsiCo’s payout ratio is 77.99%.

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.