Jennison Associates LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,044,411 shares of the company's stock after selling 49,816 shares during the quarter. Jennison Associates LLC owned approximately 0.08% of PepsiCo worth $177,602,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC raised its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo in the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo in the 2nd quarter worth approximately $34,000. Institutional investors own 73.07% of the company's stock.
PEP has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a research report on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. StockNews.com raised PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Bank of America cut their target price on PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $183.92.
Get Our Latest Analysis on PepsiCo
Shares of NASDAQ PEP opened at $156.72 on Wednesday. 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 company has a market cap of $215.02 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The business has a 50-day simple moving average of $170.00 and a two-hundred day simple moving average of $171.24.
PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm earned $2.25 EPS. The business's quarterly revenue was down .6% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.46%. PepsiCo's dividend payout ratio (DPR) is presently 79.94%.
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.
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