Pacer Advisors Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,345 shares of the company’s stock after selling 8,276 shares during the period. Pacer Advisors Inc.’s holdings in PepsiCo were worth $17,164,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in PEP. OLD Mission Capital LLC bought a new position in PepsiCo during the third quarter valued at $256,000. Lombard Odier Asset Management Switzerland SA bought a new position in PepsiCo during the third quarter valued at $765,000. Financial Advisory Service Inc. grew its holdings in PepsiCo by 9.1% during the third quarter. Financial Advisory Service Inc. now owns 3,428 shares of the company’s stock valued at $475,000 after purchasing an additional 287 shares during the period. Cubist Systematic Strategies LLC grew its holdings in PepsiCo by 168.4% during the third quarter. Cubist Systematic Strategies LLC now owns 85,081 shares of the company’s stock valued at $11,792,000 after purchasing an additional 53,387 shares during the period. Finally, Te Ahumairangi Investment Management Ltd bought a new position in PepsiCo during the third quarter valued at $4,621,000. 69.94% of the stock is owned by institutional investors.
A number of research firms have recently commented on PEP. Guggenheim reaffirmed a “buy” rating on shares of PepsiCo in a report on Thursday, April 1st. Sanford C. Bernstein began coverage on PepsiCo in a report on Tuesday, January 19th. They issued an “underperform” rating and a $136.00 price target for the company. Barclays raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $151.00 price target for the company in a report on Monday, March 29th. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Friday, February 12th. Finally, Royal Bank of Canada downgraded PepsiCo from an “outperform” rating to a “sector perform” rating and set a $153.00 price objective on the stock. in a research report on Monday, January 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $147.40.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, February 11th. The company reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.02. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The business had revenue of $22.46 billion for the quarter, compared to the consensus estimate of $22 billion. On average, sell-side analysts forecast that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th were given a dividend of $1.0225 per share. The ex-dividend date was Thursday, March 4th. This represents a $4.09 dividend on an annualized basis and a yield of 2.86%. PepsiCo’s payout ratio is 73.96%.
PepsiCo, Inc operates as a food and beverage company 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.
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