Infusive Asset Management Inc. Sells 24,881 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Infusive Asset Management Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 52.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,861 shares of the company’s stock after selling 24,881 shares during the period. PepsiCo makes up 1.6% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 26th largest position. Infusive Asset Management Inc.’s holdings in PepsiCo were worth $3,888,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Legal & General Group Plc lifted its holdings in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA boosted its position in PepsiCo by 2.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock worth $1,765,735,000 after purchasing an additional 236,091 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of PepsiCo by 5.7% during the 3rd quarter. Fisher Asset Management LLC now owns 7,854,268 shares of the company’s stock valued at $1,335,618,000 after purchasing an additional 422,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.3 %

PEP opened at $162.72 on Friday. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock’s fifty day moving average is $167.95 and its two-hundred day moving average is $170.55. The company has a market capitalization of $223.25 billion, a P/E ratio of 24.00, a PEG ratio of 3.03 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for 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%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 EPS. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current 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. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.33%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Ratings Changes

Several brokerages recently issued reports on PEP. Bank of America cut their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday, September 20th. Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

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.