DT Investment Partners LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

DT Investment Partners LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 53.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,790 shares of the company’s stock after selling 2,059 shares during the quarter. DT Investment Partners LLC’s holdings in PepsiCo were worth $268,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEP. Norges Bank purchased a new position in shares of PepsiCo during the 4th quarter valued at approximately $2,729,565,000. GAMMA Investing LLC increased its holdings in shares of PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock valued at $688,017,000 after purchasing an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock valued at $527,034,000 after purchasing an additional 1,809,391 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of PepsiCo during the 4th quarter valued at approximately $221,297,000. Finally, Vanguard Group Inc. increased its holdings in PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after acquiring an additional 1,376,133 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PepsiCo stock opened at $135.58 on Friday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The firm has a market capitalization of $185.88 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 4.23 and a beta of 0.45. The company has a fifty day simple moving average of $131.40 and a 200-day simple moving average of $142.26. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $1.4225 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.20%. PepsiCo’s payout ratio is presently 83.68%.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. UBS Group cut their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $159.75.

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.