MetLife Investment Management LLC Has $69.15 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

MetLife Investment Management LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,662 shares of the company’s stock after selling 10,427 shares during the quarter. MetLife Investment Management LLC’s holdings in PepsiCo were worth $69,153,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Meixler Investment Management Ltd. lifted its holdings in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after purchasing an additional 58 shares in the last quarter. Opes Wealth Management LLC lifted its stake in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Bank of Stockton raised its holdings in shares of PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after acquiring an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its position in PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Finally, TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Up 0.5 %

Shares of PepsiCo stock opened at $162.90 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market capitalization of $223.50 billion, a P/E ratio of 23.92, a P/E/G ratio of 3.04 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 stock’s 50-day simple moving average is $168.43 and its 200 day simple moving average is $170.66.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the company posted $2.25 EPS. PepsiCo’s revenue was down .6% compared to the same quarter last year. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

PepsiCo 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.