Hardin Capital Partners LLC Has $617,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Hardin Capital Partners LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,620 shares of the company’s stock after selling 58 shares during the period. Hardin Capital Partners LLC’s holdings in PepsiCo were worth $617,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Flossbach Von Storch AG increased its holdings in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Swedbank AB increased its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the period. PineStone Asset Management Inc. raised its position in shares of PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after acquiring an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp boosted its holdings in PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after acquiring an additional 1,179,922 shares during the last quarter. Finally, Legal & General Group Plc increased its position in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

NASDAQ:PEP opened at $175.06 on Friday. The stock’s 50-day simple moving average is $173.78 and its 200 day simple moving average is $172.14. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $240.18 billion, a P/E ratio of 25.82, a P/E/G ratio of 3.28 and a beta of 0.53.

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, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the business posted $2.25 EPS. The business’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

PepsiCo Company 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.