First Eagle Investment Management LLC Has $10.42 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

First Eagle Investment Management LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 63,170 shares of the company’s stock after selling 668 shares during the period. First Eagle Investment Management LLC’s holdings in PepsiCo were worth $10,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PEP. Capital Advisors Ltd. LLC grew its holdings in shares of PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares during the last quarter. Norden Group LLC boosted its position in PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after buying an additional 174,171 shares during the period. Marion Wealth Management increased its position in PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after acquiring an additional 494 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of PepsiCo by 1.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after acquiring an additional 11,485 shares during the last quarter. Finally, Meyer Handelman Co. lifted its holdings in shares of PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after purchasing an additional 9,465 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PEP shares. TD Cowen lowered their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Bank of America lowered their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Finally, Morgan Stanley lowered their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Stock Performance

Shares of PEP opened at $174.66 on Friday. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The stock has a 50 day moving average price of $173.42 and a two-hundred day moving average price of $171.70. The firm has a market capitalization of $240.12 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same period last year, the business earned $2.09 EPS. The business’s revenue was up .8% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

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.