PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 59.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 757,894 shares of the company’s stock after selling 1,107,278 shares during the quarter. PepsiCo comprises approximately 0.7% of Bridgewater Associates LP’s portfolio, making the stock its 27th largest holding. Bridgewater Associates LP’s holdings in PepsiCo were worth $128,880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kennedy Capital Management LLC purchased a new position in shares of PepsiCo in the 1st quarter valued at about $4,342,000. Montchanin Asset Management LLC acquired a new position in PepsiCo in the 1st quarter valued at about $771,000. CCM Investment Advisers LLC lifted its stake in shares of PepsiCo by 9.8% during the 1st quarter. CCM Investment Advisers LLC now owns 64,807 shares of the company’s stock worth $11,342,000 after purchasing an additional 5,784 shares during the period. Strategic Wealth Partners Ltd. lifted its holdings in shares of PepsiCo by 3.1% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 3,438 shares of the company’s stock worth $602,000 after acquiring an additional 102 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of PepsiCo in the 1st quarter valued at $504,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $162.16 on Wednesday. The firm’s 50-day simple moving average is $168.43 and its 200 day simple moving average is $170.66. The stock has a market cap of $222.48 billion, a P/E ratio of 23.92, a P/E/G ratio of 3.04 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 EPS. Equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PEP. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $183.92.

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.