Intech Investment Management LLC Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Intech Investment Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 22.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 43,312 shares of the company’s stock after selling 12,666 shares during the period. Intech Investment Management LLC’s holdings in PepsiCo were worth $7,143,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategy Asset Managers LLC grew its holdings in PepsiCo by 0.9% during the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock worth $1,161,000 after acquiring an additional 57 shares during the period. Meixler Investment Management Ltd. grew its holdings in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares during the period. Opes Wealth Management LLC grew its holdings in PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after acquiring an additional 59 shares during the period. Bank of Stockton grew its holdings in PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after acquiring an additional 60 shares during the period. Finally, Oxbow Advisors LLC grew its holdings in PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after acquiring an additional 60 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $171.18 on Friday. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The company has a market cap of $235.13 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.06 and a beta of 0.53. 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 business’s 50 day moving average price is $173.51 and its 200 day moving average price is $171.74.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter last year, the business posted $2.09 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.17%. PepsiCo’s payout ratio is 78.66%.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company dropped their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Bank of America dropped their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a report on Friday. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $185.53.

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.