BTC Capital Management Inc. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 1.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 66,533 shares of the company’s stock after selling 935 shares during the period. PepsiCo makes up approximately 1.3% of BTC Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. BTC Capital Management Inc.’s holdings in PepsiCo were worth $12,365,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in shares of PepsiCo by 95,514.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after acquiring an additional 42,831,405 shares during the period. Norges Bank acquired a new stake in shares of PepsiCo during the 4th quarter valued at about $2,519,707,000. Price T Rowe Associates Inc. MD grew its position in shares of PepsiCo by 98.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,180,327 shares of the company’s stock valued at $2,220,475,000 after acquiring an additional 6,045,912 shares during the period. Providence Capital Advisors LLC grew its position in shares of PepsiCo by 18,231.4% during the 1st quarter. Providence Capital Advisors LLC now owns 4,943,247 shares of the company’s stock valued at $27,116,000 after acquiring an additional 4,916,281 shares during the period. Finally, Morgan Stanley grew its position in shares of PepsiCo by 21.0% during the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after acquiring an additional 4,629,947 shares during the period. 71.40% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on PEP shares. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price objective on the stock. in a report on Monday, July 17th. Barclays lowered their price objective on PepsiCo from $206.00 to $198.00 in a report on Monday, July 10th. Argus lifted their price objective on PepsiCo from $206.00 to $212.00 in a report on Friday, July 14th. Evercore ISI lifted their price objective on PepsiCo from $190.00 to $195.00 in a report on Friday, July 14th. Finally, Wedbush lifted their price objective on PepsiCo from $200.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $192.00.
PepsiCo Trading Down 0.3 %
PEP opened at $179.38 on Tuesday. The firm has a market capitalization of $246.93 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.84 and a quick ratio of 0.64. The company’s 50 day simple moving average is $182.67 and its two-hundred day simple moving average is $184.61. PepsiCo, Inc. has a 1-year low of $160.98 and a 1-year high of $196.88.
PepsiCo (NASDAQ:PEP – Get Free Report) last released its quarterly earnings results on Thursday, July 13th. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.96 by $0.13. The firm had revenue of $22.32 billion for the quarter, compared to analyst estimates of $21.73 billion. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 EPS. Analysts expect that PepsiCo, Inc. will post 7.48 EPS for the current fiscal year.
PepsiCo Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, August 31st. PepsiCo’s payout ratio is presently 88.62%.
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
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