RB Capital Management LLC Sells 76 Shares of PepsiCo, Inc. (NASDAQ:PEP)

RB Capital Management LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% during the 3rd quarter, Holdings Channel reports. The firm owned 33,316 shares of the company’s stock after selling 76 shares during the period. PepsiCo comprises about 1.3% of RB Capital Management LLC’s portfolio, making the stock its 15th biggest holding. RB Capital Management LLC’s holdings in PepsiCo were worth $5,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the period. Janus Henderson Group PLC increased its stake in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the last quarter. IHT Wealth Management LLC increased its stake in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in PepsiCo in the 3rd quarter worth approximately $9,589,000. Finally, Kestra Investment Management LLC bought a new stake in PepsiCo in the 3rd quarter worth approximately $527,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock opened at $159.47 on Tuesday. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The stock has a market capitalization of $218.79 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 2.94 and a beta of 0.52. The stock has a fifty day simple moving average of $166.62 and a two-hundred day simple moving average of $169.42. 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 announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $23.86 billion. During the same period in the prior year, the company posted $2.25 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict 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 will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.