PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,091,202 shares of the company’s stock after selling 27,433 shares during the quarter. Royal London Asset Management Ltd. owned 0.08% of PepsiCo worth $179,972,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares in the last quarter. POM Investment Strategies LLC lifted its position in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new position in PepsiCo during the 2nd quarter valued at $30,000. Fortis Group Advisors LLC increased its position in shares of PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of PepsiCo in the 1st quarter worth $35,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.5 %

NASDAQ:PEP opened at $178.19 on Tuesday. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The firm has a market capitalization of $244.76 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.06 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The business’s fifty day moving average price is $171.27 and its 200 day moving average price is $171.24.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $2.09 earnings per share. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed 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. 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 3.04%. PepsiCo’s payout ratio is 78.66%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PEP. Royal Bank of Canada lowered their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Jefferies Financial Group dropped their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Barclays lifted their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

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.