PepsiCo, Inc. $PEP Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.1% during the third quarter, Holdings Channel.com reports. The firm owned 90,839 shares of the company’s stock after selling 16,146 shares during the quarter. Flputnam Investment Management Co.’s holdings in PepsiCo were worth $12,757,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new position in PepsiCo during the 2nd quarter valued at about $2,330,594,000. Laurel Wealth Advisors LLC lifted its stake in shares of PepsiCo by 14,420.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after acquiring an additional 3,863,893 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $460,110,000. Charles Schwab Investment Management Inc. increased 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 acquiring an additional 2,556,163 shares during the period. Finally, Franklin Resources Inc. raised its holdings in PepsiCo by 19.5% during 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 in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. Rothschild & Co Redburn lifted their price target on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. Loop Capital set a $164.00 price target on shares of PepsiCo in a research report on Thursday, October 23rd. HSBC upped their price target on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. Finally, BNP Paribas Exane lowered their price objective on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $158.75.

PepsiCo Trading Down 0.8%

Shares of NASDAQ PEP opened at $148.16 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The company has a market cap of $202.59 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 5.11 and a beta of 0.42. The business has a fifty day simple moving average of $148.00 and a 200-day simple moving average of $142.94.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

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.