Forsta AP Fonden Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Forsta AP Fonden cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 342,600 shares of the company’s stock after selling 50,500 shares during the quarter. PepsiCo makes up approximately 0.5% of Forsta AP Fonden’s holdings, making the stock its 29th biggest holding. Forsta AP Fonden’s holdings in PepsiCo were worth $56,505,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC increased its holdings in PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of PepsiCo by 1.1% in the 1st quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after acquiring an additional 180 shares during the period. Norden Group LLC lifted its stake in shares of PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after purchasing an additional 174,171 shares during the last quarter. Marion Wealth Management grew its stake in PepsiCo by 6.3% in the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after purchasing an additional 494 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in PepsiCo by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after purchasing an additional 11,485 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen reduced their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Wells Fargo & Company reduced their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Finally, Morgan Stanley cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $175.78 on Thursday. The stock has a market cap of $241.45 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a 50 day simple moving average of $171.82 and a two-hundred day simple moving average of $171.33. 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 posted 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 period in the prior year, the company earned $2.09 earnings per share. As a group, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared 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. This represents a $5.42 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

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.