TIAA Trust National Association Sells 7,760 Shares of PepsiCo, Inc. (NASDAQ:PEP)

TIAA Trust National Association trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.4% in the fourth quarter, Holdings Channel reports. The fund owned 168,180 shares of the company’s stock after selling 7,760 shares during the period. TIAA Trust National Association’s holdings in PepsiCo were worth $25,573,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PEP. Howard Capital Management Group LLC lifted its holdings in shares of PepsiCo by 2.0% in the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after purchasing an additional 90 shares in the last quarter. DRW Securities LLC lifted its stake in PepsiCo by 59.8% in the 3rd quarter. DRW Securities LLC now owns 4,250 shares of the company’s stock valued at $723,000 after acquiring an additional 1,591 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in PepsiCo by 7.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,965 shares of the company’s stock worth $334,000 after acquiring an additional 130 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of PepsiCo by 5.2% in the third quarter. Truvestments Capital LLC now owns 2,732 shares of the company’s stock valued at $465,000 after purchasing an additional 134 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in shares of PepsiCo by 5.4% in the third quarter. Horizon Kinetics Asset Management LLC now owns 2,313 shares of the company’s stock worth $393,000 after purchasing an additional 118 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $145.54 on Wednesday. The business’s 50 day moving average is $149.09 and its 200-day moving average is $158.50. The firm has a market cap of $199.61 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter last year, the firm earned $1.78 earnings per share. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s payout ratio is presently 77.99%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Evercore ISI dropped their target price on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Morgan Stanley decreased their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $168.00 to $156.00 in a research note on Tuesday, March 18th. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.88.

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.