MetLife Investment Management LLC Sells 10,427 Shares of PepsiCo, Inc. (NASDAQ:PEP)

MetLife Investment Management LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 406,662 shares of the company’s stock after selling 10,427 shares during the quarter. MetLife Investment Management LLC’s holdings in PepsiCo were worth $69,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PEP. Charles Schwab Investment Management Inc. lifted its stake 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 last quarter. Legal & General Group Plc lifted its position in PepsiCo by 7.2% in 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 last quarter. Massachusetts Financial Services Co. MA grew its position 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 during the last quarter. Fisher Asset Management LLC raised its stake in shares of PepsiCo by 5.7% during the third 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after acquiring an additional 561,465 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PEP shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

PEP opened at $162.90 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market cap of $223.50 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 3.04 and a beta of 0.53. The stock has a fifty day simple moving average of $168.43 and a two-hundred day simple moving average of $170.66. PepsiCo, Inc. has a 12-month low of $155.85 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $2.25 EPS. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.33%. PepsiCo’s payout ratio is presently 79.94%.

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.