Martingale Asset Management L P Has $32.09 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Martingale Asset Management L P cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 188,677 shares of the company’s stock after selling 31,523 shares during the quarter. Martingale Asset Management L P’s holdings in PepsiCo were worth $32,085,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Peterson Wealth Management grew its holdings in PepsiCo by 0.4% during the third quarter. Peterson Wealth Management now owns 34,691 shares of the company’s stock worth $5,899,000 after buying an additional 153 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in PepsiCo by 4.8% during the third quarter. Vinva Investment Management Ltd now owns 76,650 shares of the company’s stock worth $13,030,000 after buying an additional 3,519 shares in the last quarter. Financial Counselors Inc. grew its holdings in PepsiCo by 2.6% during the third quarter. Financial Counselors Inc. now owns 364,673 shares of the company’s stock worth $62,013,000 after buying an additional 9,300 shares in the last quarter. Public Sector Pension Investment Board grew its stake in PepsiCo by 30.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 69,036 shares of the company’s stock valued at $11,740,000 after purchasing an additional 16,200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PepsiCo by 2.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 570,680 shares of the company’s stock valued at $97,044,000 after purchasing an additional 11,226 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP opened at $162.72 on Friday. The business’s 50-day moving average price is $167.95 and its two-hundred day moving average price is $170.55. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The stock has a market cap of $223.25 billion, a P/E ratio of 24.00, a PEG ratio of 3.03 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the firm posted $2.25 EPS. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.33%. PepsiCo’s payout ratio is currently 79.94%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

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.