Levin Capital Strategies L.P. Sells 100 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Levin Capital Strategies L.P. reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,457 shares of the company’s stock after selling 100 shares during the period. Levin Capital Strategies L.P.’s holdings in PepsiCo were worth $240,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in PepsiCo during the 4th quarter worth approximately $2,686,139,000. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares during the last quarter. Stifel Financial Corp increased its stake in shares of PepsiCo by 15.7% in the fourth quarter. Stifel Financial Corp now owns 5,121,600 shares of the company’s stock valued at $869,869,000 after buying an additional 693,873 shares in the last quarter. Sanders Capital LLC raised its holdings in shares of PepsiCo by 2.9% in the fourth quarter. Sanders Capital LLC now owns 4,755,895 shares of the company’s stock valued at $807,741,000 after buying an additional 135,300 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its position in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Barclays increased their price objective on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Trading Up 0.5 %

Shares of NASDAQ:PEP opened at $178.19 on Tuesday. The company has a 50-day simple moving average of $171.27 and a 200 day simple moving average of $171.24. The company has a market capitalization of $244.76 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.04%. PepsiCo’s payout ratio is currently 78.66%.

PepsiCo 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.