Jennison Associates LLC Sells 294,688 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Jennison Associates LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 44.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 367,284 shares of the company’s stock after selling 294,688 shares during the period. Jennison Associates LLC’s holdings in PepsiCo were worth $62,380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA boosted its stake in shares of PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after acquiring an additional 70 shares during the last quarter. Life Planning Partners Inc purchased a new position in shares of PepsiCo during the fourth quarter worth $34,000. Naples Money Management LLC purchased a new position in shares of PepsiCo during the fourth quarter worth $36,000. Criterion Capital Advisors LLC purchased a new position in shares of PepsiCo during the fourth quarter worth $39,000. Finally, Avion Wealth raised its holdings in shares of PepsiCo by 61.7% during the fourth quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several recent research reports. Jefferies Financial Group raised their target price on shares of PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Finally, Barclays lifted their target price on shares of PepsiCo from $183.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.92.

PepsiCo Price Performance

Shares of PEP stock opened at $171.22 on Wednesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.68. The firm’s 50-day moving average is $168.84 and its two-hundred day moving average is $167.63. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88. The company has a market capitalization of $235.34 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $27.84 billion for the quarter, compared to the consensus estimate of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS. Analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is 77.02%.

PepsiCo Company 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.