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

Magellan Asset Management Ltd lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 16.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 831,548 shares of the company’s stock after selling 159,099 shares during the quarter. PepsiCo makes up 1.4% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 27th largest holding. Magellan Asset Management Ltd owned approximately 0.06% of PepsiCo worth $154,019,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PEP. Bank Julius Baer & Co. Ltd Zurich boosted its position in PepsiCo by 100,174.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 531,509,481 shares of the company’s stock valued at $98,446,186,000 after buying an additional 530,979,425 shares during the period. Moneta Group Investment Advisors LLC grew its stake in 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 worth $7,746,023,000 after purchasing an additional 42,831,405 shares in the last quarter. Morgan Stanley increased its holdings in PepsiCo by 21.0% during the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after purchasing an additional 4,629,947 shares during the period. Geode Capital Management LLC boosted its stake in shares of PepsiCo by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 26,126,523 shares of the company’s stock valued at $4,751,555,000 after buying an additional 489,343 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 17,880,236 shares of the company’s stock worth $3,259,567,000 after buying an additional 872,064 shares during the period. Institutional investors and hedge funds own 71.40% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Hugh F. Johnston sold 48,388 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $166.65, for a total value of $8,063,860.20. Following the completion of the transaction, the chief financial officer now directly owns 96,627 shares of the company’s stock, valued at approximately $16,102,889.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 price objective on the stock in a research report on Thursday, October 19th. Wedbush decreased their price target on PepsiCo from $206.00 to $195.00 and set an “outperform” rating for the company in a report on Monday, October 9th. Morgan Stanley dropped their price objective on PepsiCo from $210.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Citigroup dropped their price target on shares of PepsiCo from $200.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 11th. Finally, Evercore ISI lowered their target price on shares of PepsiCo from $195.00 to $185.00 in a report on Tuesday, October 3rd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $187.57.

PepsiCo Stock Performance

PEP traded up $0.75 during trading on Tuesday, reaching $167.27. The company’s stock had a trading volume of 1,011,132 shares, compared to its average volume of 4,878,912. The company has a market capitalization of $229.97 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.68 and a beta of 0.57. The company’s fifty day moving average price is $167.32 and its 200-day moving average price is $178.41. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.71 and a current ratio of 0.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 10th. The company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.10. PepsiCo had a return on equity of 58.28% and a net margin of 9.05%. The firm had revenue of $23.45 billion for the quarter, compared to analyst estimates of $23.41 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. PepsiCo’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts forecast that PepsiCo, Inc. will post 7.55 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be issued a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, November 30th. PepsiCo’s dividend payout ratio is currently 84.33%.

PepsiCo Profile

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.