PepsiCo, Inc. $PEP Stake Lowered by Cerity Partners LLC

Cerity Partners LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 938,159 shares of the company’s stock after selling 24,105 shares during the period. Cerity Partners LLC owned about 0.07% of PepsiCo worth $123,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $2,330,594,000. Nuveen LLC acquired a new position in shares of PepsiCo during the 1st quarter worth $946,978,000. Laurel Wealth Advisors LLC raised its holdings in shares of PepsiCo by 14,420.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after purchasing an additional 3,863,893 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of PepsiCo in the 2nd quarter valued at $460,110,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after purchasing an additional 2,556,163 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 1.3%

PEP opened at $145.02 on Friday. The business has a 50 day moving average of $146.66 and a 200-day moving average of $141.67. The stock has a market capitalization of $198.29 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 4.97 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $161.50.

PepsiCo (NASDAQ:PEP) last announced its earnings results 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. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. PepsiCo’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on PEP shares. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research report on Tuesday, October 21st. Bank of America boosted their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Wells Fargo & Company increased their price target on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. UBS Group dropped their price target on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $156.90.

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.