Bessemer Securities LLC Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

Bessemer Securities LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 48.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,687 shares of the company’s stock after selling 9,250 shares during the period. PepsiCo makes up about 1.2% of Bessemer Securities LLC’s portfolio, making the stock its 14th biggest position. Bessemer Securities LLC’s holdings in PepsiCo were worth $1,794,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich raised its position in PepsiCo by 100,174.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 531,509,481 shares of the company’s stock valued at $98,446,186,000 after acquiring an additional 530,979,425 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of PepsiCo by 95,514.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after purchasing an additional 42,831,405 shares in the last quarter. Norges Bank purchased a new stake in PepsiCo during the fourth quarter worth $2,519,707,000. Price T Rowe Associates Inc. MD grew its position in PepsiCo by 98.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,180,327 shares of the company’s stock valued at $2,220,475,000 after buying an additional 6,045,912 shares during the period. Finally, Providence Capital Advisors LLC increased its holdings in PepsiCo by 18,231.4% in the first quarter. Providence Capital Advisors LLC now owns 4,943,247 shares of the company’s stock valued at $27,116,000 after buying an additional 4,916,281 shares in the last quarter. 71.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PEP. Argus cut their price target on PepsiCo from $212.00 to $186.00 in a research note on Wednesday, October 11th. Evercore ISI reduced their target price on PepsiCo from $195.00 to $185.00 in a research note on Tuesday, October 3rd. Morgan Stanley dropped their price target on shares of PepsiCo from $210.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Barclays upped their price objective on shares of PepsiCo from $179.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Finally, DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 target price on the stock in a research report on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and an average target price of $187.57.

Insiders Place Their Bets

In other news, CFO Hugh F. Johnston sold 48,388 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $166.65, for a total transaction of $8,063,860.20. Following the completion of the transaction, the chief financial officer now directly owns 96,627 shares in the company, valued at approximately $16,102,889.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by insiders.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.81 on Monday, hitting $165.95. 362,090 shares of the company were exchanged, compared to its average volume of 4,876,122. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $196.88. The company has a quick ratio of 0.71, a current ratio of 0.88 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $228.16 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.68 and a beta of 0.57. The company has a 50-day moving average price of $167.57 and a 200 day moving average price of $178.60.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 10th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.10. The company had revenue of $23.45 billion during the quarter, compared to analysts’ expectations of $23.41 billion. PepsiCo had a return on equity of 58.28% and a net margin of 9.05%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.97 EPS. As a group, sell-side analysts predict that PepsiCo, Inc. will post 7.55 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 1st will be issued a dividend of $1.265 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $5.06 dividend on an annualized basis and a dividend yield of 3.05%. PepsiCo’s dividend payout ratio is currently 84.33%.

PepsiCo Profile

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.