Ninety One UK Ltd Sells 8,822 Shares of PepsiCo, Inc. $PEP

Ninety One UK Ltd trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,078 shares of the company’s stock after selling 8,822 shares during the quarter. Ninety One UK Ltd’s holdings in PepsiCo were worth $12,510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JSF Financial LLC increased its holdings in PepsiCo by 3.8% in the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after acquiring an additional 69 shares during the last quarter. Binnacle Investments Inc grew its position in shares of PepsiCo by 33.2% during the second quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after purchasing an additional 71 shares in the last quarter. Dogwood Wealth Management LLC increased its holdings in shares of PepsiCo by 15.4% in the second quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after purchasing an additional 72 shares during the last quarter. Weaver Consulting Group lifted its position in shares of PepsiCo by 2.9% in the second quarter. Weaver Consulting Group now owns 2,581 shares of the company’s stock worth $341,000 after buying an additional 72 shares in the last quarter. Finally, Davidson Trust Co. boosted its stake in PepsiCo by 0.5% during the third quarter. Davidson Trust Co. now owns 13,568 shares of the company’s stock valued at $1,905,000 after buying an additional 72 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.4%

Shares of NASDAQ PEP opened at $143.52 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a market cap of $196.24 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 4.95 and a beta of 0.42. The business’s 50 day moving average price is $146.56 and its 200-day moving average price is $143.68.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm 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 earned $2.31 earnings per share. PepsiCo’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be paid a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEP. Wells Fargo & Company upped their price objective on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday, October 10th. BNP Paribas Exane decreased their price target on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research note on Tuesday, October 21st. Jefferies Financial Group boosted their target price on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $151.00 to $164.00 in a research report on Wednesday, December 10th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average target price of $158.75.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.