PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Iron Gate Global Advisors LLC

Iron Gate Global Advisors LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.0% in the third quarter, Holdings Channel.com reports. The firm owned 13,152 shares of the company’s stock after selling 549 shares during the period. PepsiCo comprises 0.3% of Iron Gate Global Advisors LLC’s portfolio, making the stock its 27th largest holding. Iron Gate Global Advisors LLC’s holdings in PepsiCo were worth $2,237,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Park Avenue Securities LLC increased its position in PepsiCo by 3.9% in the 2nd quarter. Park Avenue Securities LLC now owns 56,892 shares of the company’s stock worth $9,383,000 after purchasing an additional 2,110 shares during the last quarter. Matrix Trust Co boosted its stake in PepsiCo by 7.3% in the 2nd quarter. Matrix Trust Co now owns 6,410 shares of the company’s stock worth $1,057,000 after purchasing an additional 436 shares during the period. Greenfield Savings Bank increased its holdings in PepsiCo by 1.0% during the second quarter. Greenfield Savings Bank now owns 8,712 shares of the company’s stock worth $1,437,000 after buying an additional 87 shares during the last quarter. Aprio Wealth Management LLC increased its position in PepsiCo by 51.4% during the 2nd quarter. Aprio Wealth Management LLC now owns 4,482 shares of the company’s stock worth $739,000 after buying an additional 1,522 shares during the period. Finally, CGN Advisors LLC increased its stake in shares of PepsiCo by 13.2% in the 2nd quarter. CGN Advisors LLC now owns 21,478 shares of the company’s stock valued at $3,542,000 after purchasing an additional 2,509 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEP. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Barclays reduced their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Down 0.2 %

Shares of NASDAQ PEP opened at $163.05 on Tuesday. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The business has a fifty day simple moving average of $167.61 and a 200-day simple moving average of $170.16. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market cap of $223.70 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 3.05 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released 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. The firm had revenue of $23.32 billion for 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%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.25 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.32%. 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.