BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $38.97 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 229,186 shares of the company’s stock after selling 34,065 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PepsiCo were worth $38,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Global Wealth Strategies & Associates grew its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC bought a new position in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC raised its position in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo in the 2nd quarter valued at about $30,000. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo during the 2nd quarter valued at $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $163.45 on Friday. The company has a market cap of $224.25 billion, a P/E ratio of 24.11, a PEG ratio of 3.03 and a beta of 0.53. The firm has a 50-day moving average of $167.79 and a 200 day moving average of $170.43. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. 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 (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for 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%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 earnings per share. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

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.