Manning & Napier Group LLC Has $27.17 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Manning & Napier Group LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 61.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 192,102 shares of the company’s stock after selling 302,990 shares during the quarter. Manning & Napier Group LLC’s holdings in PepsiCo were worth $27,171,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. OLD Mission Capital LLC bought a new position in PepsiCo during the third quarter worth $256,000. Schonfeld Strategic Advisors LLC bought a new position in PepsiCo during the third quarter worth $9,522,000. Rockland Trust Co. boosted its stake in PepsiCo by 0.6% during the fourth quarter. Rockland Trust Co. now owns 211,573 shares of the company’s stock worth $31,377,000 after acquiring an additional 1,259 shares in the last quarter. Private Trust Co. NA boosted its stake in PepsiCo by 2.6% during the fourth quarter. Private Trust Co. NA now owns 48,034 shares of the company’s stock worth $7,123,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Enterprise Bank & Trust Co boosted its stake in PepsiCo by 4.2% during the fourth quarter. Enterprise Bank & Trust Co now owns 20,704 shares of the company’s stock worth $3,070,000 after acquiring an additional 840 shares in the last quarter. 69.94% of the stock is currently owned by institutional investors.

NASDAQ PEP opened at $145.79 on Tuesday. PepsiCo, Inc. has a 52-week low of $126.53 and a 52-week high of $148.77. The company has a 50-day simple moving average of $141.53 and a 200 day simple moving average of $140.48. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.77 and a current ratio of 0.93. The company has a market capitalization of $201.43 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 3.63 and a beta of 0.57.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, April 14th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. PepsiCo had a net margin of 10.27% and a return on equity of 56.28%. The business had revenue of $14.82 billion during the quarter, compared to the consensus estimate of $14.54 billion. During the same quarter last year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts forecast that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Friday, March 5th were issued a dividend of $1.0225 per share. The ex-dividend date was Thursday, March 4th. This represents a $4.09 dividend on an annualized basis and a yield of 2.81%. PepsiCo’s dividend payout ratio (DPR) is presently 73.96%.

Several research analysts have weighed in on PEP shares. UBS Group upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $165.00 in a report on Tuesday, April 27th. Royal Bank of Canada downgraded shares of PepsiCo from an “outperform” rating to a “sector perform” rating and set a $153.00 price objective on the stock. in a report on Monday, January 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a report on Friday, February 12th. Credit Suisse Group upped their price objective on shares of PepsiCo from $144.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, April 22nd. Finally, Sanford C. Bernstein started coverage on shares of PepsiCo in a report on Tuesday, January 19th. They set an “underperform” rating and a $136.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $149.23.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company 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.

Read More: Return on Investment (ROI)

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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