Railway Pension Investments Ltd Has $119.37 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Railway Pension Investments Ltd decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 27.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 682,084 shares of the company’s stock after selling 263,000 shares during the quarter. PepsiCo makes up approximately 1.2% of Railway Pension Investments Ltd’s portfolio, making the stock its 28th biggest position. Railway Pension Investments Ltd’s holdings in PepsiCo were worth $119,372,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PEP. LMG Wealth Partners LLC lifted its holdings in PepsiCo by 1.5% during the 4th quarter. LMG Wealth Partners LLC now owns 42,428 shares of the company’s stock worth $7,206,000 after buying an additional 642 shares during the period. Iowa State Bank lifted its stake in shares of PepsiCo by 0.7% in the 4th quarter. Iowa State Bank now owns 44,354 shares of the company’s stock valued at $7,533,000 after purchasing an additional 330 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of PepsiCo by 6.2% in the 4th quarter. DAVENPORT & Co LLC now owns 198,653 shares of the company’s stock valued at $33,738,000 after purchasing an additional 11,664 shares during the period. Independence Bank of Kentucky lifted its stake in shares of PepsiCo by 17.1% in the 4th quarter. Independence Bank of Kentucky now owns 14,721 shares of the company’s stock valued at $2,500,000 after purchasing an additional 2,145 shares during the period. Finally, Webster Bank N. A. lifted its stake in shares of PepsiCo by 2.7% in the 4th quarter. Webster Bank N. A. now owns 49,201 shares of the company’s stock valued at $8,356,000 after purchasing an additional 1,287 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays boosted their price objective on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Morgan Stanley decreased their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Bank of America decreased their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $185.53.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

PepsiCo Stock Performance

Shares of PEP stock traded up $3.08 during trading on Friday, hitting $178.04. The company’s stock had a trading volume of 6,856,083 shares, compared to its average volume of 5,787,874. The company has a market cap of $244.55 billion, a PE ratio of 25.84, a P/E/G ratio of 3.02 and a beta of 0.52. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The business has a fifty day moving average of $168.15 and a 200-day moving average of $170.11. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $189.22.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.04%. PepsiCo’s payout ratio is 78.66%.

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.