International Assets Investment Management LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

International Assets Investment Management LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 99.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,403 shares of the company’s stock after selling 3,198,982 shares during the period. International Assets Investment Management LLC’s holdings in PepsiCo were worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PEP. Empowered Funds LLC raised its position in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after purchasing an additional 34,633 shares in the last quarter. IHT Wealth Management LLC increased its holdings in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at $9,589,000. Finally, Kestra Investment Management LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth about $527,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded up $0.37 on Wednesday, hitting $145.77. The company had a trading volume of 1,252,236 shares, compared to its average volume of 5,567,982. The company has a market cap of $199.99 billion, a PE ratio of 21.50, a PEG ratio of 2.94 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The business has a 50 day moving average of $158.60 and a 200 day moving average of $166.97. PepsiCo, Inc. has a 52-week low of $144.56 and a 52-week high of $183.41.

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

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Ratings Changes

Several analysts have recently weighed in on PEP shares. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” 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 on the stock in a research report on Friday, October 4th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $182.29.

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.