Logan Capital Management Inc. Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Logan Capital Management Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,941 shares of the company’s stock after selling 2,365 shares during the period. Logan Capital Management Inc.’s holdings in PepsiCo were worth $17,505,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Retirement Systems of Alabama raised its position in shares of PepsiCo by 22.1% in the third quarter. Retirement Systems of Alabama now owns 657,482 shares of the company’s stock valued at $111,805,000 after buying an additional 118,983 shares during the last quarter. Inspire Trust Co. N.A. raised its position in PepsiCo by 12.4% in the third quarter. Inspire Trust Co. N.A. now owns 12,300 shares of the company’s stock valued at $2,092,000 after purchasing an additional 1,355 shares during the period. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Peapack Gladstone Financial Corp raised its holdings in PepsiCo by 1.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 422,080 shares of the company’s stock valued at $71,774,000 after buying an additional 4,768 shares during the period. Finally, Synovus Financial Corp boosted its stake in PepsiCo by 5.5% during the third quarter. Synovus Financial Corp now owns 125,965 shares of the company’s stock worth $21,421,000 after buying an additional 6,560 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP traded down $1.14 during mid-day trading on Friday, reaching $157.76. 388,782 shares of the company’s stock traded hands, compared to its average volume of 5,493,204. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The stock has a market capitalization of $216.44 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.92 and a beta of 0.52. The business’s 50-day moving average price is $165.94 and its 200-day moving average price is $169.13. 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 issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the company posted $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced 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 3.44%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PEP. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note 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 research report on Friday, October 4th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Morgan Stanley lowered shares of 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $184.31.

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.