PepsiCo, Inc. (PEP) Position Reduced by Mackay Shields LLC

Mackay Shields LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.4% during the second quarter, Holdings Channel reports. The fund owned 719,375 shares of the company’s stock after selling 83,481 shares during the quarter. PepsiCo accounts for about 0.5% of Mackay Shields LLC’s portfolio, making the stock its 27th biggest position. Mackay Shields LLC’s holdings in PepsiCo were worth $78,319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fiera Capital Corp lifted its stake in shares of PepsiCo by 5.3% in the 1st quarter. Fiera Capital Corp now owns 3,512,114 shares of the company’s stock worth $383,347,000 after purchasing an additional 177,748 shares during the period. Bruderman Asset Management LLC lifted its stake in shares of PepsiCo by 3.9% in the 1st quarter. Bruderman Asset Management LLC now owns 59,583 shares of the company’s stock worth $6,503,000 after purchasing an additional 2,255 shares during the period. Patriot Wealth Management Inc. lifted its stake in shares of PepsiCo by 3.1% in the 2nd quarter. Patriot Wealth Management Inc. now owns 43,785 shares of the company’s stock worth $4,767,000 after purchasing an additional 1,297 shares during the period. World Asset Management Inc lifted its stake in shares of PepsiCo by 2.9% in the 2nd quarter. World Asset Management Inc now owns 102,760 shares of the company’s stock worth $11,187,000 after purchasing an additional 2,917 shares during the period. Finally, Transamerica Financial Advisors Inc. lifted its stake in shares of PepsiCo by 2.6% in the 1st quarter. Transamerica Financial Advisors Inc. now owns 30,387 shares of the company’s stock worth $3,317,000 after purchasing an additional 771 shares during the period. 70.45% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ PEP opened at $108.19 on Tuesday. PepsiCo, Inc. has a 12 month low of $95.94 and a 12 month high of $122.51. The company has a market cap of $158.12 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.63 and a beta of 0.67. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 3.00.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. The company had revenue of $16.49 billion for the quarter, compared to analysts’ expectations of $16.38 billion. During the same quarter last year, the business earned $1.48 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts expect that PepsiCo, Inc. will post 5.69 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 7th were paid a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, September 6th. PepsiCo’s payout ratio is 70.94%.

In other PepsiCo news, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total transaction of $587,345.00. Following the sale, the chief executive officer now owns 130,135 shares in the company, valued at approximately $13,897,116.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on PEP shares. Macquarie set a $122.00 price objective on shares of PepsiCo and gave the stock an “outperform” rating in a research note on Friday, September 28th. BidaskClub cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Morgan Stanley increased their price objective on shares of PepsiCo from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Finally, Citigroup increased their price objective on shares of PepsiCo from $111.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $117.89.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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