PepsiCo, Inc. (NASDAQ:PEP) Stock Position Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 43.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,568 shares of the company’s stock after selling 5,809 shares during the quarter. Edgestream Partners L.P.’s holdings in PepsiCo were worth $1,287,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC boosted its position in 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 purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new position in PepsiCo in the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.8 %

Shares of PepsiCo stock opened at $161.70 on Wednesday. The company has a market cap of $221.85 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 3.04 and a beta of 0.52. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The company’s fifty day simple moving average is $167.45 and its 200-day simple moving average is $170.01. 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 (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The business’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. TD Cowen lowered shares of 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 note on Thursday, October 10th. Barclays decreased their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada cut their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $183.92.

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.