PepsiCo, Inc. $PEP Shares Sold by Perpetual Ltd

Perpetual Ltd trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 29.9% during the third quarter, Holdings Channel reports. The firm owned 13,982 shares of the company’s stock after selling 5,977 shares during the period. Perpetual Ltd’s holdings in PepsiCo were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PEP. KMG Fiduciary Partners LLC boosted its holdings in shares of PepsiCo by 2.2% during the third quarter. KMG Fiduciary Partners LLC now owns 25,434 shares of the company’s stock valued at $3,572,000 after acquiring an additional 559 shares during the period. Signal Advisors Wealth LLC lifted its position in PepsiCo by 38.0% in the 3rd quarter. Signal Advisors Wealth LLC now owns 10,334 shares of the company’s stock valued at $1,451,000 after purchasing an additional 2,843 shares during the last quarter. Independence Bank of Kentucky boosted its stake in PepsiCo by 1.5% during the 3rd quarter. Independence Bank of Kentucky now owns 39,720 shares of the company’s stock valued at $5,578,000 after purchasing an additional 582 shares during the period. Baker Tilly Wealth Management LLC grew its position in PepsiCo by 33.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 2,966 shares of the company’s stock worth $417,000 after purchasing an additional 749 shares during the last quarter. Finally, Lifestyle Asset Management Inc. bought a new stake in shares of PepsiCo during the third quarter valued at approximately $230,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 0.8%

NASDAQ PEP opened at $148.16 on Friday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The company has a market capitalization of $202.59 billion, a P/E ratio of 28.17, a PEG ratio of 5.11 and a beta of 0.42. The company’s 50 day simple moving average is $148.00 and its 200 day simple moving average is $142.94. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. During the same period last year, the firm posted $2.31 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PEP shares. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Jefferies Financial Group raised their price target on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. Rothschild & Co Redburn increased their target price on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday, December 15th. Evercore ISI raised their target price on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Finally, The Goldman Sachs Group upped their price target on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $158.75.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.