M&G PLC Decreases Stake in PepsiCo, Inc. $PEP

M&G PLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 51.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,867 shares of the company’s stock after selling 13,610 shares during the period. M&G PLC’s holdings in PepsiCo were worth $1,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in PepsiCo during the 2nd quarter valued at approximately $2,330,594,000. Laurel Wealth Advisors LLC raised its holdings in shares of PepsiCo by 14,420.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after purchasing an additional 3,863,893 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 9.7% during 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 purchasing an additional 2,556,163 shares during the period. Franklin Resources Inc. boosted its holdings in PepsiCo by 19.5% in the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after purchasing an additional 2,541,455 shares during the last quarter. Finally, First Trust Advisors LP grew its position in PepsiCo by 112.6% during the 2nd quarter. First Trust Advisors LP now owns 4,040,079 shares of the company’s stock worth $533,452,000 after purchasing an additional 2,139,847 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $161.92 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. The firm has a market cap of $221.29 billion, a PE ratio of 26.99, a PEG ratio of 3.16 and a beta of 0.40. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48. The firm has a fifty day moving average of $150.36 and a 200 day moving average of $147.51.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Monday, February 2nd. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The business had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.96 billion. During the same quarter last year, the business earned $1.96 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo announced that its Board of Directors has approved a stock buyback program on Tuesday, February 3rd that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to purchase up to 4.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.5%. PepsiCo’s dividend payout ratio is presently 94.83%.

Analyst Ratings Changes

PEP has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on PepsiCo from $154.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. BNP Paribas Exane set a $191.00 target price on shares of PepsiCo in a report on Wednesday, February 4th. Jefferies Financial Group increased their price target on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Finally, Evercore lifted their price objective on shares of PepsiCo from $152.00 to $165.00 in a report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $167.83.

PepsiCo Profile

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.