Hoese & Co LLP Sells 105 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hoese & Co LLP decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,105 shares of the company’s stock after selling 105 shares during the quarter. PepsiCo makes up approximately 0.3% of Hoese & Co LLP’s holdings, making the stock its 25th largest holding. Hoese & Co LLP’s holdings in PepsiCo were worth $358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates raised 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 valued at $27,000 after acquiring an additional 59 shares during the last quarter. Valued Wealth Advisors LLC increased its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC increased its holdings 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 in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo in the 2nd quarter valued at about $30,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday. Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. BNP Paribas began coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $184.07.

PepsiCo Stock Up 0.3 %

NASDAQ PEP opened at $172.99 on Friday. The company has a 50 day moving average of $173.62 and a 200-day moving average of $172.06. The company has a market cap of $237.34 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.11 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1-year low of $157.43 and a 1-year high of $183.41.

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

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.13%. PepsiCo’s payout ratio 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.