Public Employees Retirement System of Ohio Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Public Employees Retirement System of Ohio lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 615,800 shares of the company’s stock after selling 5,656 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in PepsiCo were worth $104,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Empowered Funds LLC raised its position in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the last quarter. Janus Henderson Group PLC raised its position in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares during the last quarter. IHT Wealth Management LLC raised its position in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in PepsiCo in the 3rd quarter worth about $9,589,000. Finally, Kestra Investment Management LLC purchased a new position in PepsiCo in the 3rd quarter worth about $527,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PEP. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Down 0.8 %

NASDAQ PEP opened at $157.79 on Monday. The stock’s 50 day moving average is $166.83 and its 200 day moving average is $169.56. 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, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The stock has a market cap of $216.49 billion, a PE ratio of 23.27, a P/E/G ratio of 2.94 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. 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 previous year, the firm earned $2.25 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.43%. 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.