Factory Mutual Insurance Co. Sells 18,600 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Factory Mutual Insurance Co. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,500 shares of the company’s stock after selling 18,600 shares during the quarter. Factory Mutual Insurance Co.’s holdings in PepsiCo were worth $21,341,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PEP. Legal & General Group Plc grew its holdings in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG grew its holdings in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PEP shares. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Finally, Wells Fargo & Company lowered their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

PEP stock traded up $1.82 during midday trading on Friday, reaching $174.81. 4,720,299 shares of the company’s stock traded hands, compared to its average volume of 5,510,471. PepsiCo, Inc. has a 52 week low of $157.43 and a 52 week high of $183.41. The company has a 50-day moving average price of $173.52 and a two-hundred day moving average price of $172.08. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89. The firm has a market capitalization of $240.33 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

PepsiCo Company 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.