AustralianSuper Pty Ltd Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

AustralianSuper Pty Ltd trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 74.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,682 shares of the company’s stock after selling 30,679 shares during the period. AustralianSuper Pty Ltd’s holdings in PepsiCo were worth $1,762,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Valued Wealth Advisors LLC increased its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC grew its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the second quarter valued at about $30,000. Fortis Group Advisors LLC lifted its stake in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo during the 1st quarter valued at about $35,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent analyst reports. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. Wells Fargo & Company dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, BNP Paribas initiated coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $185.53.

PepsiCo Stock Performance

PepsiCo stock traded down $0.80 during mid-day trading on Wednesday, hitting $174.50. The company had a trading volume of 656,771 shares, compared to its average volume of 5,418,965. The company has a market capitalization of $239.90 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 2.98 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The company’s fifty day moving average is $169.55 and its 200-day moving average is $170.75. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87.

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

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $1.355 dividend. 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 3.11%. PepsiCo’s payout ratio is 78.66%.

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.