RWC Asset Management LLP Sells 12,481 Shares of PepsiCo, Inc. (NASDAQ:PEP)

RWC Asset Management LLP cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,565 shares of the company’s stock after selling 12,481 shares during the quarter. PepsiCo makes up approximately 2.2% of RWC Asset Management LLP’s investment portfolio, making the stock its 16th largest holding. RWC Asset Management LLP’s holdings in PepsiCo were worth $36,951,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Transcend Capital Advisors LLC grew its stake in shares of PepsiCo by 2.9% in the fourth quarter. Transcend Capital Advisors LLC now owns 27,671 shares of the company’s stock valued at $4,700,000 after acquiring an additional 780 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its stake in shares of PepsiCo by 0.6% in the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 95,523 shares of the company’s stock valued at $16,224,000 after acquiring an additional 567 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at about $318,000. Intact Investment Management Inc. grew its stake in shares of PepsiCo by 19.0% in the fourth quarter. Intact Investment Management Inc. now owns 46,900 shares of the company’s stock valued at $7,965,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Fulton Breakefield Broenniman LLC grew its stake in PepsiCo by 21.5% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 93,099 shares of the company’s stock worth $15,812,000 after buying an additional 16,494 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PEP. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Barclays raised their price target on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $180.00 to $195.00 in a report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Stock Down 0.6 %

NASDAQ PEP traded down $1.10 during mid-day trading on Friday, hitting $175.58. The company’s stock had a trading volume of 4,472,102 shares, compared to its average volume of 5,365,961. The company’s 50 day simple moving average is $169.40 and its 200 day simple moving average is $167.86. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $196.88. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $241.39 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.88 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s payout ratio is 76.09%.

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.