PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Meyer Handelman Co.

by · The Markets Daily

Meyer Handelman Co. decreased its position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,103 shares of the company’s stock after selling 9,561 shares during the period. PepsiCo comprises 1.4% of Meyer Handelman Co.’s portfolio, making the stock its 19th largest holding. Meyer Handelman Co.’s holdings in PepsiCo were worth $41,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. Flossbach Von Storch AG lifted its stake in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the period. PineStone Asset Management Inc. lifted its position in shares of PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares during the period. Van ECK Associates Corp boosted its stake in shares of PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after acquiring an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of PepsiCo in the 1st quarter worth approximately $166,243,000. Finally, Legal & General Group Plc increased its stake in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $174.81 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $239.84 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The business’s 50-day moving average price is $173.52 and its 200 day moving average price is $172.08. PepsiCo, Inc. has a twelve month low of $157.43 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP – Get Free Report) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 earnings per share. On average, research analysts predict 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 was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.10%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PEP shares. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a report on Thursday. Jefferies Financial Group dropped their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday. One equities research 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 presently has an average rating of “Hold” and an average target price of $183.92.

Check Out Our Latest Analysis on PepsiCo

PepsiCo Company Profile

(Free Report)

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.

See Also

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