Mackenzie Financial Corp Sells 330,491 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mackenzie Financial Corp lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,025,378 shares of the company’s stock after selling 330,491 shares during the quarter. Mackenzie Financial Corp’s holdings in PepsiCo were worth $153,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock valued at $71,527,000 after buying an additional 11,538 shares in the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo in the 4th quarter valued at about $33,000. Partners in Financial Planning purchased a new stake in PepsiCo in the 4th quarter valued at about $213,000. Finally, Skba Capital Management LLC grew its stake in PepsiCo by 3.7% in the 4th quarter. Skba Capital Management LLC now owns 38,120 shares of the company’s stock worth $5,797,000 after acquiring an additional 1,350 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 1.3%

Shares of PepsiCo stock opened at $141.57 on Tuesday. The firm’s 50 day moving average price is $133.77 and its 200-day moving average price is $140.94. 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 $180.91. The company has a market cap of $193.82 billion, a P/E ratio of 25.79, a PEG ratio of 3.82 and a beta of 0.45.

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

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Friday, September 5th. PepsiCo’s payout ratio is currently 103.64%.

Analysts Set New Price Targets

A number of brokerages have commented on PEP. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research note on Thursday, April 24th. Bank of America dropped their target price on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, July 11th. Dbs Bank downgraded shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Citigroup upped their target price on shares of PepsiCo from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, July 10th. One 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, PepsiCo 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.