PepsiCo, Inc. $PEP Stake Decreased by Glenmede Investment Management LP

Glenmede Investment Management LP trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 866,886 shares of the company’s stock after selling 13,439 shares during the quarter. Glenmede Investment Management LP owned about 0.06% of PepsiCo worth $121,745,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in PepsiCo during the 2nd quarter worth $2,330,594,000. Laurel Wealth Advisors LLC increased 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 valued at $513,726,000 after purchasing an additional 3,863,893 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of 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 in the last quarter. Franklin Resources Inc. lifted 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 worth $2,056,797,000 after purchasing an additional 2,541,455 shares during the period. Finally, First Trust Advisors LP grew its position in PepsiCo by 112.6% in the 2nd quarter. First Trust Advisors LP now owns 4,040,079 shares of the company’s stock valued at $533,452,000 after buying an additional 2,139,847 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on PEP shares. Morgan Stanley boosted their price target on shares of PepsiCo from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. HSBC increased their price objective on shares of PepsiCo from $152.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Wall Street Zen raised PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. TD Cowen upped their target price on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Finally, UBS Group reiterated a “buy” rating and set a $190.00 price target on shares of PepsiCo in a research report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $169.00.

PepsiCo Stock Up 0.6%

NASDAQ PEP opened at $159.88 on Friday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48. The company has a market capitalization of $218.50 billion, a P/E ratio of 26.65, a PEG ratio of 3.05 and a beta of 0.39. The company’s 50 day simple moving average is $156.71 and its 200 day simple moving average is $149.68. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.67.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The firm had revenue of $29.34 billion during the quarter, compared to analysts’ expectations of $28.96 billion. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, March 6th. PepsiCo’s payout ratio is presently 94.83%.

PepsiCo declared that its Board of Directors has authorized a share buyback program on Tuesday, February 3rd that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

PepsiCo Company 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.