PepsiCo, Inc. (NASDAQ:PEP) is Benin Management CORP’s 7th Largest Position

Benin Management CORP cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,465 shares of the company’s stock after selling 91 shares during the quarter. PepsiCo comprises approximately 3.0% of Benin Management CORP’s investment portfolio, making the stock its 7th biggest position. Benin Management CORP’s holdings in PepsiCo were worth $10,622,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PEP. Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP boosted its holdings in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the period. Ameriprise Financial Inc. boosted its holdings in PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG boosted its holdings in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PEP shares. Jefferies Financial Group reduced their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Finally, Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

PEP traded up $1.31 during trading on Monday, hitting $176.37. 1,313,018 shares of the stock were exchanged, compared to its average volume of 5,472,112. The firm has a market capitalization of $242.47 billion, a P/E ratio of 25.70, a PEG ratio of 3.28 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The stock has a fifty day moving average price of $173.78 and a two-hundred day moving average price of $172.15. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 earnings per share. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.07%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

About PepsiCo

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.