Pensionfund Sabic Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Pensionfund Sabic reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 17.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,500 shares of the company’s stock after selling 2,600 shares during the period. Pensionfund Sabic’s holdings in PepsiCo were worth $2,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Flossbach Von Storch AG raised its position in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. raised its holdings in shares of PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp lifted its stake in PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after acquiring an additional 1,179,922 shares during the period. Confluence Investment Management LLC bought a new stake in PepsiCo in the first quarter valued at $166,243,000. Finally, Legal & General Group Plc increased its position in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 1.2 %

NASDAQ:PEP opened at $172.54 on Thursday. The stock has a market cap of $237.21 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.07 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The company’s 50 day moving average price is $173.62 and its 200-day moving average price is $172.06. PepsiCo, Inc. has a 52 week low of $157.43 and a 52 week high of $183.41.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.14%. PepsiCo’s dividend payout ratio is presently 78.66%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $184.29.

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.