Cornerstone Advisors LLC Sells 40,900 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Advisors LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEPFree Report) by 33.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,100 shares of the company’s stock after selling 40,900 shares during the period. PepsiCo makes up about 0.7% of Cornerstone Advisors LLC’s holdings, making the stock its 29th biggest holding. Cornerstone Advisors LLC’s holdings in PepsiCo were worth $14,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its holdings in shares of PepsiCo by 95,514.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock worth $7,746,023,000 after acquiring an additional 42,831,405 shares during the last quarter. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $2,519,707,000. Morgan Stanley lifted its holdings in shares of PepsiCo by 21.0% in the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after acquiring an additional 4,629,947 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of PepsiCo by 8,552.2% in the 2nd quarter. Fisher Asset Management LLC now owns 4,452,316 shares of the company’s stock worth $824,658,000 after acquiring an additional 4,400,857 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of PepsiCo in the 2nd quarter worth approximately $535,169,000. Hedge funds and other institutional investors own 71.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEP. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $195.00 in a report on Monday. Wedbush reiterated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a report on Friday. Jefferies Financial Group assumed coverage on shares of PepsiCo in a report on Monday, November 13th. They issued a “buy” rating and a $203.00 price objective for the company. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 price objective for the company in a report on Thursday, October 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a report on Monday. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.46.

Read Our Latest Stock Report on PEP

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $2.05 during trading on Monday, reaching $169.72. 3,078,419 shares of the company traded hands, compared to its average volume of 5,558,240. The firm has a 50 day simple moving average of $168.53 and a 200-day simple moving average of $171.04. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $233.34 billion, a PE ratio of 25.67, a P/E/G ratio of 2.50 and a beta of 0.54. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88.

PepsiCo (NASDAQ:PEPGet Free Report) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The firm had revenue of $27.84 billion for the quarter, compared to analysts’ expectations of $28.40 billion. During the same quarter in the prior year, the business earned $1.67 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a $1.265 dividend. This represents a $5.06 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is presently 77.02%.

PepsiCo Company Profile

(Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

See Also

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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