Davis R M Inc. Has $44.57 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Davis R M Inc. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 262,109 shares of the company’s stock after selling 11,085 shares during the quarter. Davis R M Inc.’s holdings in PepsiCo were worth $44,572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Legal & General Group Plc boosted its holdings in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in PepsiCo by 2.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock worth $1,765,735,000 after acquiring an additional 236,091 shares during the period. Fisher Asset Management LLC lifted its position in PepsiCo by 5.7% during the 3rd quarter. Fisher Asset Management LLC now owns 7,854,268 shares of the company’s stock worth $1,335,618,000 after acquiring an additional 422,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEP. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

NASDAQ PEP opened at $162.00 on Monday. The firm has a market cap of $222.26 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.02 and a beta of 0.53. 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 1-year low of $155.85 and a 1-year high of $183.41. The company has a 50 day moving average of $169.01 and a 200-day moving average of $170.89.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business 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. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is currently 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.