Investment Counsel Inc. Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Investment Counsel Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,047 shares of the company’s stock after selling 2,947 shares during the quarter. PepsiCo makes up approximately 1.9% of Investment Counsel Inc.’s investment portfolio, making the stock its 17th largest position. Investment Counsel Inc.’s holdings in PepsiCo were worth $2,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Magellan Asset Management Ltd boosted its stake in PepsiCo by 32.1% during the fourth quarter. Magellan Asset Management Ltd now owns 13,983,914 shares of the company’s stock worth $2,073,814,000 after buying an additional 3,396,536 shares during the last quarter. Norges Bank acquired a new position in shares of PepsiCo in the 4th quarter valued at $2,066,514,000. Morgan Stanley lifted its stake in shares of PepsiCo by 9.5% in the 4th quarter. Morgan Stanley now owns 12,927,926 shares of the company’s stock valued at $1,917,210,000 after purchasing an additional 1,122,678 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of PepsiCo by 13.3% in the 4th quarter. Nuveen Asset Management LLC now owns 11,188,907 shares of the company’s stock valued at $1,659,315,000 after buying an additional 1,312,672 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,503,015 shares of the company’s stock valued at $1,557,593,000 after buying an additional 731,839 shares during the period. 69.94% of the stock is currently owned by institutional investors.

Shares of NASDAQ PEP traded up $0.07 during trading hours on Monday, reaching $142.64. The stock had a trading volume of 164,093 shares, compared to its average volume of 5,653,815. The firm has a market cap of $196.85 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 3.63 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.77 and a debt-to-equity ratio of 2.79. PepsiCo, Inc. has a fifty-two week low of $126.53 and a fifty-two week high of $148.77. The firm has a 50-day moving average of $135.67 and a 200-day moving average of $139.68.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, February 11th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.02. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The company had revenue of $22.46 billion during the quarter, compared to analysts’ expectations of $22 billion. On average, equities analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Friday, March 5th were issued a $1.0225 dividend. The ex-dividend date was Thursday, March 4th. This represents a $4.09 annualized dividend and a dividend yield of 2.87%. PepsiCo’s dividend payout ratio is currently 73.96%.

Several research firms recently issued reports on PEP. Barclays upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $151.00 price objective on the stock in a report on Monday, March 29th. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a report on Friday, February 12th. Sanford C. Bernstein assumed coverage on PepsiCo in a report on Tuesday, January 19th. They set an “underperform” rating and a $136.00 price target on the stock. Guggenheim restated a “buy” rating on shares of PepsiCo in a report on Thursday, April 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on PepsiCo from $143.00 to $148.00 and gave the stock a “hold” rating in a report on Wednesday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $147.40.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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