PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 27.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,386 shares of the company’s stock after selling 2,395 shares during the period. New England Research & Management Inc.’s holdings in PepsiCo were worth $1,086,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its stake 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 worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in PepsiCo by 1.1% during the 2nd 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 raised its holdings in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PEP shares. BNP Paribas assumed coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Barclays cut their price objective on shares of PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday. TD Cowen decreased their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. Nine 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 company has a consensus rating of “Hold” and a consensus target price of $185.29.

PepsiCo Stock Down 0.5 %

Shares of PEP stock traded down $0.76 during trading hours on Monday, reaching $167.21. The company had a trading volume of 5,453,608 shares, compared to its average volume of 5,492,564. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a twelve month low of $157.43 and a twelve month high of $183.41. The stock’s fifty day simple moving average is $173.80 and its 200 day simple moving average is $172.11. The company has a market capitalization of $229.67 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.13 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

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.