Axa S.A. Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Axa S.A. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 543,194 shares of the company’s stock after selling 20,499 shares during the quarter. Axa S.A.’s holdings in PepsiCo were worth $89,589,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Alley Investment Management Company LLC lifted its holdings in PepsiCo by 0.8% in the second quarter. Alley Investment Management Company LLC now owns 68,863 shares of the company’s stock valued at $11,358,000 after acquiring an additional 548 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PepsiCo in the second quarter valued at $223,000. Fred Alger Management LLC grew its holdings in shares of PepsiCo by 5.6% during the 2nd quarter. Fred Alger Management LLC now owns 49,842 shares of the company’s stock worth $8,220,000 after purchasing an additional 2,651 shares during the period. Wescott Financial Advisory Group LLC increased its position in shares of PepsiCo by 41.3% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 2,475 shares of the company’s stock worth $408,000 after purchasing an additional 724 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in PepsiCo by 59.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 263,251 shares of the company’s stock valued at $43,418,000 after buying an additional 98,550 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ PEP opened at $169.40 on Thursday. The business has a 50-day moving average of $173.78 and a two-hundred day moving average of $171.98. The company has a market capitalization of $232.68 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth 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 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 earnings per share. On average, analysts forecast that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.20%. PepsiCo’s dividend payout ratio is presently 78.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada decreased their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Jefferies Financial Group cut their price target 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, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $185.53.

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.