Pensionfund Sabic Sells 2,600 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pensionfund Sabic reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 17.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,500 shares of the company’s stock after selling 2,600 shares during the quarter. Pensionfund Sabic’s holdings in PepsiCo were worth $2,126,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC raised its stake in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares during the period. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. POM Investment Strategies LLC grew its position in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new stake in PepsiCo during the 2nd quarter valued at $30,000. Finally, Fortis Group Advisors LLC lifted its stake in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday. BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective on the stock. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. 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.com, the stock currently has an average rating of “Hold” and an average target price of $184.29.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $172.54 on Thursday. PepsiCo, Inc. has a 12 month low of $157.43 and a 12 month high of $183.41. 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 stock has a market cap of $237.21 billion, a P/E ratio of 25.04, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a 50 day moving average of $173.62 and a 200 day moving average of $172.06.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.13 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.14%. 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.