Pendal Group Ltd Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Pendal Group Ltd lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 388,185 shares of the company’s stock after selling 19,321 shares during the quarter. Pendal Group Ltd’s holdings in PepsiCo were worth $43,966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Oregon Public Employees Retirement Fund grew its stake in shares of PepsiCo by 10,622.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock valued at $314,000 after acquiring an additional 34,380,553 shares during the period. BlackRock Inc. grew its stake in shares of PepsiCo by 2.4% during the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock valued at $10,727,836,000 after acquiring an additional 2,275,511 shares during the period. Thoroughbred Financial Services LLC grew its stake in shares of PepsiCo by 13,410.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock valued at $180,626,000 after acquiring an additional 1,792,893 shares during the period. California Public Employees Retirement System grew its stake in shares of PepsiCo by 34.2% during the 4th quarter. California Public Employees Retirement System now owns 6,285,045 shares of the company’s stock valued at $694,372,000 after acquiring an additional 1,600,360 shares during the period. Finally, Railway Pension Investments Ltd bought a new position in shares of PepsiCo during the 2nd quarter valued at approximately $16,182,000. 71.26% of the stock is owned by hedge funds and other institutional investors.

PEP stock traded up $1.32 during midday trading on Friday, hitting $132.04. The company’s stock had a trading volume of 86,792 shares, compared to its average volume of 4,586,136. PepsiCo, Inc. has a 12 month low of $104.53 and a 12 month high of $135.24. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $181.66 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 3.37 and a beta of 0.60. The company has a 50 day moving average of $130.78 and a two-hundred day moving average of $125.22.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The business had revenue of $16.45 billion during the quarter, compared to the consensus estimate of $16.44 billion. During the same period in the prior year, the company posted $1.61 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts anticipate that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.89%. PepsiCo’s dividend payout ratio is currently 67.49%.

PEP has been the subject of a number of recent research reports. Bank of America boosted their price objective on PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. UBS Group boosted their price objective on PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Morgan Stanley boosted their price objective on PepsiCo from $137.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Atlantic Securities initiated coverage on PepsiCo in a research note on Monday, July 29th. They issued an “overweight” rating and a $145.00 price target for the company. Finally, Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. PepsiCo currently has an average rating of “Hold” and a consensus target price of $129.35.

In other news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the transaction, the chief executive officer now directly owns 105,350 shares in the company, valued at approximately $13,500,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the transaction, the chief executive officer now owns 54,920 shares of the company’s stock, valued at $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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