PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,417,496 shares of the company’s stock after selling 117,148 shares during the period. AQR Capital Management LLC’s holdings in PepsiCo were worth $233,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Valued Wealth Advisors LLC lifted its stake in 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 buying an additional 69 shares during 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 worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the second quarter valued at approximately $30,000. Fortis Group Advisors LLC boosted its position 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 buying an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in PepsiCo in the 1st quarter valued at approximately $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on PEP. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Barclays increased their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. TD Cowen reduced their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Jefferies Financial Group lowered their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Bank of America decreased their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $185.53.

PepsiCo Stock Down 0.3 %

Shares of PepsiCo stock opened at $169.40 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The firm has a market capitalization of $232.68 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.97 and a beta of 0.53. The stock’s fifty day moving average is $173.78 and its 200-day moving average is $171.98.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, September 6th. 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.