Lazard Asset Management LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Lazard Asset Management LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 33.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 706,643 shares of the company’s stock after selling 353,407 shares during the period. Lazard Asset Management LLC owned 0.05% of PepsiCo worth $123,668,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PEP. Norges Bank bought a new stake in PepsiCo during the fourth quarter worth approximately $2,686,139,000. International Assets Investment Management LLC grew its stake in shares of PepsiCo by 9,623.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after buying an additional 3,026,611 shares during the last quarter. Flossbach Von Storch AG grew its stake in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after buying an additional 1,832,385 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 1.0 %

PepsiCo stock traded up $1.73 during mid-day trading on Friday, reaching $172.75. 5,746,255 shares of the company were exchanged, compared to its average volume of 5,470,916. The business has a fifty day moving average of $168.72 and a 200 day moving average of $169.87. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market cap of $237.28 billion, a P/E ratio of 25.07, a PEG ratio of 2.99 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.29.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. During the same quarter in the prior year, the business earned $2.09 earnings per share. PepsiCo’s revenue was up .8% on a year-over-year basis. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.14%. PepsiCo’s dividend payout ratio is presently 78.66%.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. Wells Fargo & Company cut their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley cut their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. BNP Paribas initiated coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Barclays upped their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $185.53.

PepsiCo 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.