Investment Management Corp of Ontario Has $12.31 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Investment Management Corp of Ontario cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,395 shares of the company’s stock after selling 4,463 shares during the period. Investment Management Corp of Ontario’s holdings in PepsiCo were worth $12,311,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Legal & General Group Plc increased its holdings in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in PepsiCo by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock valued at $1,765,735,000 after acquiring an additional 236,091 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of PepsiCo by 5.7% in 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 lifted its holdings in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $162.68 on Tuesday. The company has a market cap of $223.20 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 3.05 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The company has a 50-day simple moving average of $167.61 and a 200-day simple moving average of $170.16.

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 analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the company earned $2.25 EPS. PepsiCo’s revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PEP shares. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

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.