Centre Asset Management LLC Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Centre Asset Management LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,424 shares of the company’s stock after selling 7,571 shares during the quarter. PepsiCo accounts for about 2.3% of Centre Asset Management LLC’s portfolio, making the stock its 16th largest position. Centre Asset Management LLC’s holdings in PepsiCo were worth $10,100,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEP. Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the third quarter worth about $31,000. Mattson Financial Services LLC purchased a new stake in shares of PepsiCo during the second quarter valued at about $34,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.3 %

NASDAQ PEP traded up $0.48 on Friday, reaching $150.69. 595,493 shares of the company were exchanged, compared to its average volume of 2,721,907. PepsiCo, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $183.41. The stock has a market capitalization of $206.75 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. The business’s fifty day moving average price is $159.95 and its 200 day moving average price is $167.37. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 earnings per share. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

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 paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.60%. PepsiCo’s payout ratio is 79.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PEP shares. Royal Bank of Canada decreased their target price 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. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Barclays cut their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $184.31.

About PepsiCo

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.