BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 229,186 shares of the company’s stock after selling 34,065 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PepsiCo were worth $38,973,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Meixler Investment Management Ltd. increased its holdings in shares of PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the period. Opes Wealth Management LLC lifted its stake in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares in the last quarter. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Bank of Stockton boosted its stake in shares of PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC increased its holdings in PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.4 %

Shares of NASDAQ PEP opened at $163.45 on Friday. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The firm has a market cap of $224.25 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The firm’s 50 day moving average price is $167.79 and its 200 day moving average price is $170.43. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.32%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analysts Set New Price Targets

Several research firms recently weighed in on PEP. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Company 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.