Jennison Associates LLC Has $177.60 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Jennison Associates LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,044,411 shares of the company’s stock after selling 49,816 shares during the quarter. Jennison Associates LLC owned approximately 0.08% of PepsiCo worth $177,602,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC raised its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo in the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo in the 2nd quarter worth approximately $34,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Bank of America cut their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Down 1.0 %

Shares of NASDAQ PEP opened at $156.72 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market cap of $215.02 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The business has a 50-day simple moving average of $170.00 and a two-hundred day simple moving average of $171.24.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS 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 during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm earned $2.25 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.46%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.