Ardevora Asset Management LLP Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Ardevora Asset Management LLP lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 44.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,280 shares of the company’s stock after selling 78,458 shares during the quarter. PepsiCo makes up approximately 1.5% of Ardevora Asset Management LLP’s holdings, making the stock its 16th largest holding. Ardevora Asset Management LLP’s holdings in PepsiCo were worth $16,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. LFA Lugano Financial Advisors SA grew its holdings in PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after buying an additional 70 shares during the period. Life Planning Partners Inc acquired a new position in shares of PepsiCo in the 4th quarter valued at about $34,000. Naples Money Management LLC acquired a new stake in PepsiCo during the 4th quarter worth approximately $36,000. Criterion Capital Advisors LLC acquired a new stake in PepsiCo during the 4th quarter worth approximately $39,000. Finally, Avion Wealth increased its position in PepsiCo by 61.7% during the 4th quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PEP traded up $1.86 during trading hours on Friday, hitting $174.13. 6,636,697 shares of the stock were exchanged, compared to its average volume of 4,502,704. The stock has a 50-day simple moving average of $168.68 and a 200-day simple moving average of $167.45. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88. The stock has a market cap of $239.34 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.73 and a beta of 0.53. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The firm had revenue of $27.84 billion for the quarter, compared to analysts’ expectations of $28.40 billion. During the same period last year, the business posted $1.67 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.265 dividend. This represents a $5.06 annualized dividend and a yield of 2.91%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio is presently 77.02%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Monday, March 18th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Wedbush restated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $186.92.

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.