PepsiCo, Inc. $PEP Shares Sold by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 74.1% in the third quarter, Holdings Channel.com reports. The firm owned 25,562 shares of the company’s stock after selling 73,046 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in PepsiCo were worth $3,590,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nova Wealth Management Inc. purchased a new position in shares of PepsiCo in the 1st quarter worth $25,000. Evolution Wealth Management Inc. acquired a new stake in PepsiCo during the second quarter worth about $27,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo in the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after purchasing an additional 121 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC grew its holdings in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Evercore ISI lifted their target price on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. BNP Paribas Exane decreased their price target on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. UBS Group reissued a “buy” rating and issued a $172.00 price objective on shares of PepsiCo in a research report on Tuesday, December 9th. Finally, HSBC upped their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $158.75.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $142.23 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The business has a 50 day moving average price of $146.37 and a two-hundred day moving average price of $143.75. The firm has a market cap of $194.48 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 4.70 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. PepsiCo’s payout ratio is presently 108.17%.

About PepsiCo

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.