Northwest & Ethical Investments L.P. Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Northwest & Ethical Investments L.P. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 15.9% in the third quarter, HoldingsChannel reports. The fund owned 26,069 shares of the company’s stock after selling 4,915 shares during the period. Northwest & Ethical Investments L.P.’s holdings in PepsiCo were worth $4,433,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vinva Investment Management Ltd increased its stake in shares of PepsiCo by 4.8% in the third quarter. Vinva Investment Management Ltd now owns 76,650 shares of the company’s stock worth $13,030,000 after buying an additional 3,519 shares during the period. Financial Counselors Inc. increased its position in shares of PepsiCo by 2.6% in the third quarter. Financial Counselors Inc. now owns 364,673 shares of the company’s stock valued at $62,013,000 after acquiring an additional 9,300 shares during the period. Public Sector Pension Investment Board raised its stake in shares of PepsiCo by 30.7% during the third quarter. Public Sector Pension Investment Board now owns 69,036 shares of the company’s stock valued at $11,740,000 after acquiring an additional 16,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PepsiCo by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 570,680 shares of the company’s stock worth $97,044,000 after purchasing an additional 11,226 shares during the period. Finally, FORA Capital LLC grew its stake in shares of PepsiCo by 0.5% in the third quarter. FORA Capital LLC now owns 61,393 shares of the company’s stock worth $10,440,000 after purchasing an additional 313 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

PepsiCo stock opened at $162.72 on Friday. The stock’s 50 day moving average is $167.95 and its 200 day moving average is $170.55. The company has a market capitalization of $223.25 billion, a P/E ratio of 24.00, a PEG ratio of 3.03 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. 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 (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $2.25 earnings per share. On average, equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.