PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 833,988 shares of the company’s stock after selling 178,176 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of PepsiCo worth $141,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter worth about $28,000. POM Investment Strategies LLC lifted its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo in the second quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. lifted its holdings in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Down 0.5 %

NASDAQ PEP opened at $162.16 on Wednesday. The business has a fifty day moving average price of $168.43 and a 200 day moving average price of $170.66. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $222.48 billion, a P/E ratio of 23.92, a P/E/G ratio of 3.04 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the company earned $2.25 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business 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 $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.