Intech Investment Management LLC Sells 2,636 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Intech Investment Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,676 shares of the company’s stock after selling 2,636 shares during the quarter. Intech Investment Management LLC’s holdings in PepsiCo were worth $6,917,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after acquiring an additional 8,406 shares during the last quarter. M&G Plc boosted its position in PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after buying an additional 14,724 shares during the period. Pinnacle Financial Partners Inc boosted its position in PepsiCo by 3.5% during the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after buying an additional 4,547 shares during the period. Fiduciary Family Office LLC boosted its position in PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after buying an additional 3,727 shares during the period. Finally, Empower Advisory Group LLC boosted its position in PepsiCo by 4.6% during the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock valued at $64,432,000 after buying an additional 16,523 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PEP shares. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays cut their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

Shares of PEP opened at $160.29 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The company has a 50-day simple moving average of $169.32 and a two-hundred day simple moving average of $171.08. The firm has a market capitalization of $219.92 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the firm earned $2.25 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

About PepsiCo

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.