Voya Investment Management LLC Sells 66,796 Shares of PepsiCo, Inc. $PEP

Voya Investment Management LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 445,530 shares of the company’s stock after selling 66,796 shares during the quarter. Voya Investment Management LLC’s holdings in PepsiCo were worth $62,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PEP. Norges Bank bought a new position in PepsiCo in the second quarter valued at approximately $2,330,594,000. Laurel Wealth Advisors LLC raised its stake in PepsiCo by 14,420.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after purchasing an additional 3,863,893 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of PepsiCo in the 2nd quarter valued at $460,110,000. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after purchasing an additional 2,556,163 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of PepsiCo by 19.5% in the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after purchasing an additional 2,541,455 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $148.16 on Friday. The stock has a market cap of $202.59 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 5.15 and a beta of 0.42. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The firm’s 50-day simple moving average is $148.00 and its two-hundred day simple moving average is $142.86.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $2.31 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s dividend payout ratio is 108.17%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank Of Canada dropped their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research note on Monday, September 15th. UBS Group reissued a “buy” rating and issued a $172.00 price target on shares of PepsiCo in a report on Tuesday, December 9th. Wall Street Zen upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. HSBC boosted their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Finally, DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research report on Tuesday, October 21st. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $158.75.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.