Sanders Capital LLC Sells 158,430 Shares of PepsiCo, Inc. $PEP

Sanders Capital LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,844,312 shares of the company’s stock after selling 158,430 shares during the period. Sanders Capital LLC’s holdings in PepsiCo were worth $680,335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc increased its stake in PepsiCo by 77.4% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 8,801 shares of the company’s stock worth $1,236,000 after acquiring an additional 3,841 shares during the last quarter. United Financial Planning Group LLC bought a new stake in PepsiCo in the third quarter worth $50,000. Zuckerman Investment Group LLC grew its stake in shares of PepsiCo by 2.9% in the 3rd quarter. Zuckerman Investment Group LLC now owns 19,855 shares of the company’s stock worth $2,788,000 after buying an additional 567 shares in the last quarter. Temasek Holdings Private Ltd raised its position in shares of PepsiCo by 107.1% during the 3rd quarter. Temasek Holdings Private Ltd now owns 557,426 shares of the company’s stock valued at $78,285,000 after buying an additional 288,245 shares in the last quarter. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. grew its position in PepsiCo by 1.2% in the third quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 18,839 shares of the company’s stock worth $2,646,000 after acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Rothschild & Co Redburn lifted their target price on PepsiCo from $120.00 to $130.00 and gave the stock a “sell” rating in a report on Tuesday, February 10th. Evercore lifted their price objective on shares of PepsiCo from $152.00 to $165.00 in a research note on Wednesday, February 4th. TD Cowen raised their target price on shares of PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. Finally, Argus upgraded PepsiCo to a “hold” rating in a research report on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $169.00.

PepsiCo Price Performance

PepsiCo stock opened at $159.88 on Friday. The stock has a market cap of $218.50 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The firm has a 50-day moving average of $156.71 and a two-hundred day moving average of $149.68. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $171.48. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.67.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.02. The firm had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.96 billion. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to buy up to 4.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, March 6th. PepsiCo’s payout ratio is presently 94.83%.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.