IFM Investors Pty Ltd Sells 6,363 Shares of PepsiCo, Inc. $PEP

IFM Investors Pty Ltd lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 258,351 shares of the company’s stock after selling 6,363 shares during the period. IFM Investors Pty Ltd’s holdings in PepsiCo were worth $36,283,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC increased its position in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after acquiring an additional 6,574 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of PepsiCo by 15.0% during the first quarter. Harvest Portfolios Group Inc. now owns 127,743 shares of the company’s stock valued at $19,154,000 after purchasing an additional 16,653 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of PepsiCo by 36.5% in the first quarter. Epoch Investment Partners Inc. now owns 386,104 shares of the company’s stock valued at $57,892,000 after purchasing an additional 103,229 shares in the last quarter. Redwood Investment Management LLC acquired a new position in PepsiCo during the 1st quarter worth $390,000. Finally, Zuckerman Investment Group LLC boosted its position in PepsiCo by 2.1% in the 1st quarter. Zuckerman Investment Group LLC now owns 16,620 shares of the company’s stock valued at $2,492,000 after buying an additional 338 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Evercore ISI upped their price target on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Wells Fargo & Company upped their target price on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Rothschild & Co Redburn raised their target price on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research note on Monday, December 15th. HSBC boosted their price target on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Finally, The Goldman Sachs Group raised their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $158.75.

PepsiCo Stock Down 2.3%

Shares of NASDAQ:PEP opened at $143.68 on Wednesday. The company has a 50 day moving average price of $147.80 and a two-hundred day moving average price of $143.23. 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 company has a market capitalization of $196.46 billion, a PE ratio of 27.32, a PEG ratio of 5.07 and a beta of 0.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15.

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

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio is 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.