Prudential PLC Sells 11,113 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Prudential PLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 77.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,295 shares of the company’s stock after selling 11,113 shares during the period. Prudential PLC’s holdings in PepsiCo were worth $494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Legacy Financial Group LLC raised its holdings in shares of PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock worth $227,000 after purchasing an additional 71 shares during the period. Pflug Koory LLC raised its holdings in shares of PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company’s stock worth $1,162,000 after purchasing an additional 76 shares during the period. Hoge Financial Services LLC raised its holdings in shares of PepsiCo by 2.1% in the 1st quarter. Hoge Financial Services LLC now owns 3,633 shares of the company’s stock worth $545,000 after purchasing an additional 76 shares during the period. Members Trust Co raised its holdings in shares of PepsiCo by 1.3% in the 1st quarter. Members Trust Co now owns 5,941 shares of the company’s stock worth $891,000 after purchasing an additional 77 shares during the period. Finally, Fairview Capital Investment Management LLC raised its holdings in shares of PepsiCo by 2.3% in the 4th quarter. Fairview Capital Investment Management LLC now owns 3,526 shares of the company’s stock worth $536,000 after purchasing an additional 78 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $150.40 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.73. The stock’s 50 day moving average is $137.39 and its two-hundred day moving average is $140.63. The company has a market capitalization of $205.91 billion, a PE ratio of 27.40, a P/E/G ratio of 3.96 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the previous year, the business earned $2.28 EPS. PepsiCo’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, September 5th. PepsiCo’s payout ratio is 103.64%.

Analysts Set New Price Targets

PEP has been the topic of a number of research reports. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Wells Fargo & Company raised their price objective on PepsiCo from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Morgan Stanley boosted their price target on PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, July 10th. Finally, Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. One equities research 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, PepsiCo currently has an average rating of “Hold” and a consensus target price of $158.73.

PepsiCo Company Profile

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.