Everence Capital Management Inc. Has $6.44 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Everence Capital Management Inc. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 14.3% during the third quarter, HoldingsChannel.com reports. The fund owned 37,839 shares of the company’s stock after selling 6,290 shares during the period. Everence Capital Management Inc.’s holdings in PepsiCo were worth $6,435,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PEP. Flossbach Von Storch AG boosted its position in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares during the last quarter. Swedbank AB increased its stake in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. grew its holdings in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp boosted its position in PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after purchasing an additional 1,179,922 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock traded up $0.73 during trading on Monday, hitting $175.79. The company had a trading volume of 2,460,706 shares, compared to its average volume of 5,477,766. The stock’s 50-day moving average price is $173.78 and its 200 day moving average price is $172.15. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market capitalization of $241.67 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 3.28 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (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%. During the same period in the prior year, the firm posted $2.25 EPS. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $183.92.

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.