FORA Capital LLC Decreases Stock Holdings in PepsiCo, Inc. $PEP

FORA Capital LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 15.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,877 shares of the company’s stock after selling 9,510 shares during the period. PepsiCo makes up 0.8% of FORA Capital LLC’s portfolio, making the stock its 27th largest holding. FORA Capital LLC’s holdings in PepsiCo were worth $6,982,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in PepsiCo during the second quarter worth approximately $2,330,594,000. Laurel Wealth Advisors LLC increased its position in shares of PepsiCo by 14,420.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after purchasing an additional 3,863,893 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in PepsiCo during the 2nd quarter valued at $460,110,000. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after buying an additional 2,556,163 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after purchasing an additional 2,541,455 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PEP. JPMorgan Chase & Co. raised PepsiCo from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $151.00 to $164.00 in a research note on Wednesday. Wall Street Zen upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Saturday. DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research note on Tuesday, October 21st. Jefferies Financial Group raised their price target on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Finally, HSBC boosted their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $158.35.

PepsiCo Stock Up 1.1%

NASDAQ:PEP opened at $150.65 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15. The company has a 50-day moving average of $147.30 and a 200 day moving average of $142.29. The firm has a market cap of $205.99 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 5.20 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo’s dividend payout ratio is currently 108.17%.

PepsiCo 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.