Mackenzie Financial Corp Sells 186,035 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mackenzie Financial Corp reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,171,627 shares of the company’s stock after selling 186,035 shares during the quarter. Mackenzie Financial Corp’s holdings in PepsiCo were worth $358,166,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Valued Wealth Advisors LLC increased its holdings in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC grew its stake 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 buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo during the second quarter worth approximately $30,000. Fortis Group Advisors LLC boosted its holdings in shares of 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 acquiring an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of PepsiCo during the first quarter worth approximately $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.2 %

PEP opened at $169.69 on Friday. The company’s 50 day moving average is $173.77 and its 200-day moving average is $171.96. The company has a market cap of $233.29 billion, a P/E ratio of 24.63, a PEG ratio of 2.97 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year 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.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share 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 analysts’ expectations of $22.59 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.14 earnings per share 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 paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.19%. PepsiCo’s dividend payout ratio is 78.66%.

Analyst Ratings Changes

A number of research analysts have commented on PEP shares. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Finally, Barclays upped their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $185.53.

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.