Cypress Capital Group Sells 857 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cypress Capital Group decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,694 shares of the company’s stock after selling 857 shares during the period. Cypress Capital Group’s holdings in PepsiCo were worth $5,220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates boosted its stake 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 during the period. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter valued at approximately $28,000. POM Investment Strategies LLC grew its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays lowered their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

NASDAQ:PEP opened at $158.74 on Thursday. The firm’s fifty day moving average is $169.66 and its two-hundred day moving average is $171.16. The firm has a market cap of $217.79 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.92 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.85 and a one year 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.

PepsiCo (NASDAQ:PEP) last posted its earnings results 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 during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the firm earned $2.25 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.41%. PepsiCo’s dividend payout ratio is currently 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.