Intech Investment Management LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Intech Investment Management LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,312 shares of the company’s stock after selling 12,666 shares during the quarter. Intech Investment Management LLC’s holdings in PepsiCo were worth $7,143,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of PepsiCo by 7.4% during the second 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 period. Dimensional Fund Advisors LP raised its holdings in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after acquiring an additional 561,465 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of PepsiCo by 15.7% during the fourth quarter. Stifel Financial Corp now owns 5,121,600 shares of the company’s stock valued at $869,869,000 after acquiring an additional 693,873 shares in the last quarter. Sanders Capital LLC raised its holdings in shares of PepsiCo by 2.9% during the fourth quarter. Sanders Capital LLC now owns 4,755,895 shares of the company’s stock valued at $807,741,000 after acquiring an additional 135,300 shares in the last quarter. Finally, Flossbach Von Storch AG raised its holdings in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 2.0 %

NASDAQ PEP opened at $171.18 on Friday. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The stock has a market cap of $235.13 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.06 and a beta of 0.53. The stock’s fifty day moving average price is $173.51 and its 200-day moving average price is $171.74. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same period last year, the firm posted $2.09 earnings per share. PepsiCo’s revenue was up .8% compared to the same quarter last year. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.17%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America decreased their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Jefferies Financial Group decreased their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. TD Cowen decreased 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. Royal Bank of Canada decreased their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, Wells Fargo & Company decreased their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.53.

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.