Investment Management Corp of Ontario Has $12.31 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Investment Management Corp of Ontario trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,395 shares of the company’s stock after selling 4,463 shares during the period. Investment Management Corp of Ontario’s holdings in PepsiCo were worth $12,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC boosted its holdings in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the second quarter valued at about $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.2 %

Shares of NASDAQ:PEP opened at $162.68 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12-month low of $155.85 and a 12-month high of $183.41. The business has a 50 day moving average of $167.61 and a 200-day moving average of $170.16. The stock has a market cap of $223.20 billion, a PE ratio of 24.05, a P/E/G ratio of 3.05 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.25 earnings per share. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada lowered 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 note on Friday, October 4th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

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.