PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Troy Asset Management Ltd

Troy Asset Management Ltd lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 436,457 shares of the company’s stock after selling 43,639 shares during the quarter. PepsiCo makes up about 2.3% of Troy Asset Management Ltd’s investment portfolio, making the stock its 14th biggest position. Troy Asset Management Ltd’s holdings in PepsiCo were worth $71,985,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Valued Wealth Advisors LLC increased its position in PepsiCo by 77.5% during the first 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. POM Investment Strategies LLC increased its holdings in shares of 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 acquiring an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in PepsiCo in the 2nd quarter valued at $30,000. Fortis Group Advisors LLC boosted its stake in PepsiCo by 100.0% during the 4th 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 position in PepsiCo during the 1st quarter worth $35,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $170.05 on Tuesday. The business has a 50 day moving average price of $173.82 and a 200 day moving average price of $172.12. The company has a market capitalization of $233.78 billion, a P/E ratio of 24.68, a PEG ratio of 2.93 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 debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.14 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PEP. 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. Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.20.

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.