Troy Asset Management Ltd Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Troy Asset Management Ltd cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 436,457 shares of the company’s stock after selling 43,639 shares during the period. PepsiCo makes up about 2.3% of Troy Asset Management Ltd’s holdings, making the stock its 14th largest holding. Troy Asset Management Ltd’s holdings in PepsiCo were worth $71,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Valued Wealth Advisors LLC grew its holdings in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo during the second quarter worth about $30,000. Fortis Group Advisors LLC raised its stake in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of PepsiCo in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. BNP Paribas initiated coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a report on Friday, September 20th. Barclays increased their target price on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $185.20.

PepsiCo Stock Up 0.0 %

Shares of NASDAQ PEP opened at $170.05 on Tuesday. 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 $233.78 billion, a P/E ratio of 24.68, a PEG ratio of 2.93 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The business’s fifty day simple moving average is $173.82 and its 200-day simple moving average is $172.12.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (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 business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter last year, the business posted $2.09 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts predict that PepsiCo, Inc. will post 8.14 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued 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 78.66%.

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.