Connor Clark & Lunn Investment Management Ltd. Cuts Holdings in PepsiCo, Inc. (PEP)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 29.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,701 shares of the company’s stock after selling 114,375 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in PepsiCo were worth $29,689,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. HC Financial Advisors Inc. bought a new position in PepsiCo during the 4th quarter worth approximately $1,040,000. Lido Advisors LLC boosted its stake in PepsiCo by 13.5% during the 4th quarter. Lido Advisors LLC now owns 8,725 shares of the company’s stock worth $1,046,000 after acquiring an additional 1,037 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in PepsiCo by 5.5% during the 4th quarter. EP Wealth Advisors LLC now owns 167,871 shares of the company’s stock worth $20,131,000 after acquiring an additional 8,712 shares during the last quarter. Vident Investment Advisory LLC boosted its stake in PepsiCo by 7.3% during the 4th quarter. Vident Investment Advisory LLC now owns 12,656 shares of the company’s stock worth $1,517,000 after acquiring an additional 860 shares during the last quarter. Finally, All Terrain Financial Advisors LLC bought a new position in PepsiCo during the 4th quarter worth approximately $275,000. Institutional investors own 70.39% of the company’s stock.

Shares of PEP stock opened at $111.50 on Thursday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.09 and a current ratio of 1.24. The company has a market cap of $158.79 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 2.64 and a beta of 0.66. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, July 10th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. The firm had revenue of $16.09 billion for the quarter, compared to the consensus estimate of $16.05 billion. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS. analysts forecast that PepsiCo, Inc. will post 5.69 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a dividend of $0.9275 per share. The ex-dividend date is Thursday, September 6th. This represents a $3.71 annualized dividend and a yield of 3.33%. PepsiCo’s dividend payout ratio (DPR) is currently 70.94%.

Several research firms recently weighed in on PEP. Zacks Investment Research raised shares of PepsiCo from a “sell” rating to a “hold” rating in a research note on Sunday, July 15th. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Guggenheim began coverage on shares of PepsiCo in a research note on Thursday, September 13th. They set a “neutral” rating and a $117.00 price objective on the stock. ValuEngine raised shares of PepsiCo from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Goldman Sachs Group reissued a “sell” rating and set a $108.00 price objective on shares of PepsiCo in a research note on Monday, August 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. PepsiCo currently has an average rating of “Hold” and an average target price of $119.50.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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