Gateway Investment Advisers LLC Sells 11,787 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Gateway Investment Advisers LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 336,921 shares of the company’s stock after selling 11,787 shares during the period. Gateway Investment Advisers LLC’s holdings in PepsiCo were worth $57,293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Code Waechter LLC acquired a new stake in shares of PepsiCo during the third quarter valued at about $448,000. McNamara Financial Services Inc. boosted its position in PepsiCo by 0.7% during the 3rd quarter. McNamara Financial Services Inc. now owns 9,309 shares of the company’s stock worth $1,583,000 after buying an additional 67 shares during the period. Silverlake Wealth Management LLC grew its holdings in PepsiCo by 8.3% during the 3rd quarter. Silverlake Wealth Management LLC now owns 2,547 shares of the company’s stock worth $433,000 after acquiring an additional 196 shares during the last quarter. Guinness Asset Management LTD raised its stake in shares of PepsiCo by 4.6% during the third quarter. Guinness Asset Management LTD now owns 1,175,247 shares of the company’s stock valued at $199,832,000 after acquiring an additional 51,447 shares during the last quarter. Finally, Avity Investment Management Inc. lifted its holdings in shares of PepsiCo by 1.4% during the third quarter. Avity Investment Management Inc. now owns 267,844 shares of the company’s stock worth $45,547,000 after purchasing an additional 3,816 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PEP shares. Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $190.00 to $183.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Up 1.1 %

NASDAQ PEP traded up $1.82 during trading hours on Friday, hitting $174.81. The company’s stock had a trading volume of 4,720,299 shares, compared to its average volume of 5,510,471. The company has a market capitalization of $239.84 billion, a PE ratio of 25.78, a price-to-earnings-growth 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 52 week low of $157.43 and a 52 week high of $183.41. The company’s 50-day simple moving average is $173.52 and its two-hundred day simple moving average is $172.08.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.25 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. 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 3.10%. 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.