First Eagle Investment Management LLC Sells 340 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Eagle Investment Management LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,328 shares of the company’s stock after selling 340 shares during the period. First Eagle Investment Management LLC’s holdings in PepsiCo were worth $9,478,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PEP. Collier Financial bought a new stake in PepsiCo in the 4th quarter valued at $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo in the 4th quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the 3rd quarter valued at $31,000. Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo during the 4th quarter worth about $34,000. Finally, Human Investing LLC bought a new position in shares of PepsiCo during the 4th quarter worth about $39,000. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PEP. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Morgan Stanley dropped their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 target price for the company. Finally, TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $170.59.

PepsiCo Stock Up 0.2 %

Shares of NASDAQ:PEP opened at $148.59 on Friday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a 50 day moving average of $148.76 and a 200-day moving average of $160.10. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market cap of $203.79 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter in the previous year, the company earned $1.78 EPS. PepsiCo’s revenue was down .2% on a year-over-year basis. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

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.