Wellington Management Group LLP Sells 330,207 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Wellington Management Group LLP reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,768,344 shares of the company’s stock after selling 330,207 shares during the quarter. Wellington Management Group LLP’s holdings in PepsiCo were worth $1,789,494,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PEP. Vanguard Group Inc. grew its stake in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the period. State Street Corp increased its position in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC lifted its holdings in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of PepsiCo during the fourth quarter worth approximately $2,729,565,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the subject of a number of recent analyst reports. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. HSBC dropped their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price target on the stock. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Stock Performance

Shares of PEP stock opened at $149.27 on Monday. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company’s fifty day simple moving average is $149.25 and its 200-day simple moving average is $157.91. The firm has a market cap of $204.72 billion, a PE ratio of 21.48, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

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.