IMS Capital Management Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

IMS Capital Management cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,245 shares of the company’s stock after selling 279 shares during the quarter. PepsiCo accounts for about 1.1% of IMS Capital Management’s portfolio, making the stock its 22nd largest holding. IMS Capital Management’s holdings in PepsiCo were worth $2,505,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PEP. Jones Financial Companies Lllp raised its position in shares of PepsiCo by 5.2% in the fourth quarter. Jones Financial Companies Lllp now owns 75,965 shares of the company’s stock worth $12,902,000 after acquiring an additional 3,756 shares during the period. The Manufacturers Life Insurance Company boosted its position in PepsiCo by 19.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,258,426 shares of the company’s stock worth $213,731,000 after purchasing an additional 205,682 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in PepsiCo by 34.7% in the fourth quarter. CWA Asset Management Group LLC now owns 11,230 shares of the company’s stock valued at $1,907,000 after purchasing an additional 2,893 shares during the period. Rafferty Asset Management LLC increased its position in shares of PepsiCo by 14.7% in the fourth quarter. Rafferty Asset Management LLC now owns 171,462 shares of the company’s stock valued at $29,121,000 after buying an additional 22,036 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. lifted its position in shares of PepsiCo by 1.8% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 10,320 shares of the company’s stock valued at $1,753,000 after buying an additional 180 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $170.05 on Tuesday. The business’s fifty day simple moving average is $173.82 and its 200-day simple moving average is $172.12. 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 firm has a market cap of $233.58 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The business 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 revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business earned $2.09 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.19%. PepsiCo’s payout ratio is presently 78.66%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. TD Cowen reduced their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $185.20.

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.