PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,012,164 shares of the company’s stock after selling 208,505 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of PepsiCo worth $166,936,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Meixler Investment Management Ltd. raised its stake in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares in the last quarter. Opes Wealth Management LLC raised its position in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares during the period. Bank of Stockton lifted its stake in PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after buying an additional 60 shares in the last quarter. Oxbow Advisors LLC boosted its stake in PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the period. Finally, Security Financial Services INC. boosted its position in shares of PepsiCo by 1.6% in the first quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of several research reports. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Barclays raised their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada cut their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $185.53.

PepsiCo Stock Performance

PEP opened at $170.00 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The stock’s 50 day moving average price is $173.76 and its two-hundred day moving average price is $171.95. The firm has a market capitalization of $233.71 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 2.97 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.19%. PepsiCo’s dividend payout ratio is 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.