Everence Capital Management Inc. Sells 6,290 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Everence Capital Management Inc. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 14.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,839 shares of the company’s stock after selling 6,290 shares during the quarter. Everence Capital Management Inc.’s holdings in PepsiCo were worth $6,435,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Valued Wealth Advisors LLC lifted its position in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC boosted its stake in PepsiCo by 141.3% during the 2nd 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 period. Summit Securities Group LLC bought a new position in PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the second quarter worth approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Barclays cut their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

PEP stock traded up $0.73 during trading on Monday, hitting $175.79. 2,460,706 shares of the stock traded hands, compared to its average volume of 5,477,766. The stock has a market cap of $241.67 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 3.28 and a beta of 0.53. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a 50 day simple moving average of $173.78 and a 200 day simple moving average of $172.15.

PepsiCo (NASDAQ:PEP) last posted its 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 net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

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.