PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 33.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 706,643 shares of the company’s stock after selling 353,407 shares during the period. Lazard Asset Management LLC’s holdings in PepsiCo were worth $123,668,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategy Asset Managers LLC lifted its stake in shares of PepsiCo by 0.9% in the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock worth $1,161,000 after acquiring an additional 57 shares during the period. SYM FINANCIAL Corp lifted its stake in shares of PepsiCo by 2.7% in the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after acquiring an additional 61 shares during the period. Clearwater Capital Advisors LLC lifted its stake in shares of PepsiCo by 2.3% in the 4th quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after acquiring an additional 61 shares during the period. Security Financial Services INC. lifted its stake in shares of PepsiCo by 1.6% in the 1st quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after acquiring an additional 61 shares during the period. Finally, Arbor Investment Advisors LLC lifted its stake in shares of PepsiCo by 3.6% in the 1st quarter. Arbor Investment Advisors LLC now owns 1,779 shares of the company’s stock worth $311,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 1.0 %

Shares of PEP stock traded up $1.73 during trading hours on Friday, reaching $172.75. 5,746,255 shares of the stock traded hands, compared to its average volume of 5,470,916. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.29. The business has a fifty day moving average price of $168.72 and a 200 day moving average price of $169.87. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $237.28 billion, a PE ratio of 25.07, a PEG ratio of 2.99 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.14%. PepsiCo’s dividend payout ratio is presently 78.66%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PEP shares. TD Cowen reduced their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Wells Fargo & Company dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group dropped their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $185.53.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

PepsiCo Company 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.