PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 136,059 shares of the company’s stock after selling 3,525 shares during the period. PepsiCo makes up approximately 1.7% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 20th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in PepsiCo were worth $23,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of PepsiCo by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 18,423,845 shares of the company’s stock worth $3,121,736,000 after buying an additional 920,032 shares in the last quarter. Northern Trust Corp lifted its stake in shares of PepsiCo by 3.7% in the third quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock worth $2,859,812,000 after buying an additional 595,357 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after buying an additional 1,470,064 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of PepsiCo by 9.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,316,036 shares of the company’s stock worth $1,239,629,000 after buying an additional 608,321 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of PepsiCo by 2.1% in the third quarter. Deutsche Bank AG now owns 6,774,800 shares of the company’s stock worth $1,147,922,000 after buying an additional 142,243 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. Wedbush restated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $180.00 price target on shares of PepsiCo in a report on Monday, February 12th. Finally, Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $195.00 in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ:PEP traded down $1.10 during trading on Friday, hitting $175.58. 4,472,102 shares of the company were exchanged, compared to its average volume of 5,365,961. The stock has a market capitalization of $241.39 billion, a P/E ratio of 26.40, a PEG ratio of 2.88 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $196.88. The firm’s 50 day moving average price is $169.40 and its 200-day moving average price is $167.86.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. PepsiCo’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.265 per share. The ex-dividend date was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a yield of 2.88%. PepsiCo’s payout ratio is currently 76.09%.

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.