USS Investment Management Ltd Sells 325,157 Shares of PepsiCo, Inc. (NASDAQ:PEP)

USS Investment Management Ltd cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 45.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 383,321 shares of the company’s stock after selling 325,157 shares during the quarter. USS Investment Management Ltd’s holdings in PepsiCo were worth $58,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PEP. Collier Financial bought a new stake in shares of PepsiCo during the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo during the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo during the 4th quarter worth approximately $30,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in PepsiCo during the 4th quarter valued at $31,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Morgan Stanley cut their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $163.00 price objective on shares of PepsiCo in a research report on Tuesday, April 22nd. HSBC lowered their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $160.69.

PepsiCo Stock Performance

Shares of PEP stock opened at $131.79 on Tuesday. PepsiCo, Inc. has a 12 month low of $127.87 and a 12 month high of $182.13. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $180.69 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 3.09 and a beta of 0.47. The business’s 50-day moving average price is $141.05 and its 200-day moving average price is $149.19.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the business earned $1.61 earnings per share. PepsiCo’s revenue was down 1.8% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $1.4225 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Friday, June 6th. PepsiCo’s payout ratio is presently 83.68%.

About PepsiCo

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.