Fayez Sarofim & Co Sells 676,296 Shares of PepsiCo, Inc. $PEP

Fayez Sarofim & Co lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,237,836 shares of the company’s stock after selling 676,296 shares during the quarter. Fayez Sarofim & Co’s holdings in PepsiCo were worth $295,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of PepsiCo during the 2nd quarter valued at about $2,330,594,000. Laurel Wealth Advisors LLC raised its holdings in PepsiCo by 14,420.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after buying an additional 3,863,893 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in PepsiCo in the second quarter valued at approximately $460,110,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of PepsiCo by 19.5% during the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after acquiring an additional 2,541,455 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $145.63 on Tuesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a 50 day moving average price of $146.77 and a 200 day moving average price of $141.86. The stock has a market capitalization of $199.13 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 4.97 and a beta of 0.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $161.50.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 EPS. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEP. Citigroup cut their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Royal Bank Of Canada cut their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. BNP Paribas Exane cut their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Finally, UBS Group decreased their price target on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $156.90.

PepsiCo 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.