PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Davis R M Inc.

Davis R M Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,109 shares of the company’s stock after selling 11,085 shares during the period. Davis R M Inc.’s holdings in PepsiCo were worth $44,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. Empowered Funds LLC grew its position in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in PepsiCo in the 3rd quarter valued at approximately $9,589,000. M&G Plc raised its stake in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after acquiring an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc boosted its position in PepsiCo by 3.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after acquiring an additional 4,547 shares during the period. Finally, Fiduciary Family Office LLC increased its holdings in shares of PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after purchasing an additional 3,727 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PEP. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Bank of America lowered their price target 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, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 1.0 %

Shares of PepsiCo stock opened at $162.00 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The stock has a 50-day moving average price of $169.01 and a 200 day moving average price of $170.89. The company has a market cap of $222.26 billion, a P/E ratio of 23.89, a P/E/G ratio of 3.02 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results 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 net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the firm earned $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.35%. PepsiCo’s dividend payout ratio is 79.94%.

PepsiCo 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.