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

Vestcor Inc lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 11.7% during the third quarter, HoldingsChannel reports. The firm owned 171,971 shares of the company’s stock after selling 22,802 shares during the period. PepsiCo comprises 0.9% of Vestcor Inc’s holdings, making the stock its 17th biggest position. Vestcor Inc’s holdings in PepsiCo were worth $29,244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Maia Wealth LLC acquired a new position in PepsiCo during the second quarter worth $327,000. ORG Partners LLC grew its holdings in shares of PepsiCo by 1,176.5% in the second quarter. ORG Partners LLC now owns 9,842 shares of the company’s stock valued at $1,605,000 after purchasing an additional 9,071 shares during the period. Bremer Bank National Association increased its position in PepsiCo by 7.4% during the second quarter. Bremer Bank National Association now owns 2,641 shares of the company’s stock worth $436,000 after purchasing an additional 182 shares during the last quarter. Addenda Capital Inc. raised its stake in PepsiCo by 5.3% during the second quarter. Addenda Capital Inc. now owns 80,015 shares of the company’s stock worth $13,197,000 after purchasing an additional 4,016 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in PepsiCo by 5.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 144,653 shares of the company’s stock valued at $23,858,000 after purchasing an additional 6,880 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PEP shares. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

PepsiCo stock opened at $159.47 on Tuesday. 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, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The firm has a market cap of $218.79 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. The company’s 50 day moving average is $166.62 and its two-hundred day moving average is $169.42.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the firm earned $2.25 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.40%. PepsiCo’s payout ratio is 79.94%.

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.