PepsiCo, Inc. (NASDAQ:PEP) is Yacktman Asset Management LP’s 5th Largest Position

Yacktman Asset Management LP cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,166,715 shares of the company’s stock after selling 321,644 shares during the quarter. PepsiCo comprises about 3.8% of Yacktman Asset Management LP’s investment portfolio, making the stock its 5th biggest position. Yacktman Asset Management LP owned 0.16% of PepsiCo worth $368,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after buying an additional 3,201,676 shares during the period. 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 acquiring an additional 1,832,385 shares in the last quarter. Swedbank AB increased its position in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $166.34 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market cap of $228.22 billion, a P/E ratio of 24.53, a PEG ratio of 3.09 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The stock has a fifty day moving average price of $172.84 and a 200 day moving average price of $172.20.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm posted $2.25 EPS. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEP. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.