Intech Investment Management LLC Sells 2,636 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Intech Investment Management LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,676 shares of the company’s stock after selling 2,636 shares during the period. Intech Investment Management LLC’s holdings in PepsiCo were worth $6,917,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PEP. International Assets Investment Management LLC raised its position in shares of PepsiCo by 17,113.0% during 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 buying an additional 3,201,676 shares in the last quarter. Swedbank AB raised its position in shares of PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. raised its position in shares of PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares in the last quarter. Legal & General Group Plc raised its position in shares of PepsiCo by 7.2% during the 2nd 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 in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at about $151,749,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PEP shares. Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Up 1.0 %

Shares of PepsiCo stock opened at $160.29 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a fifty day moving average price of $169.32 and a 200 day moving average price of $171.08. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The stock has a market cap of $219.92 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the company posted $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.38%. PepsiCo’s payout ratio is 79.94%.

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.