PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,269 shares of the company’s stock after selling 1,752 shares during the period. Hartford Investment Management Co.’s holdings in PepsiCo were worth $14,670,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC raised its holdings in shares of PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the period. Norden Group LLC boosted its stake in shares of PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares during the period. M&G Plc increased its stake in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after buying an additional 14,724 shares during the period. OLD Second National Bank of Aurora lifted its stake in PepsiCo by 32.7% in the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock worth $4,079,000 after acquiring an additional 5,737 shares during the last quarter. Finally, Koss Olinger Consulting LLC boosted its stake in PepsiCo by 1,320.5% in the first quarter. Koss Olinger Consulting LLC now owns 33,425 shares of the company’s stock valued at $5,850,000 after acquiring an additional 31,072 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PEP. Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group cut their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to 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 down $0.97 during trading on Wednesday, reaching $173.40. 298,428 shares of the company were exchanged, compared to its average volume of 5,463,663. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $237.90 billion, a P/E ratio of 25.72, a PEG ratio of 3.26 and a beta of 0.53. The stock’s 50 day moving average price is $173.90 and its 200 day moving average price is $172.23.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 EPS. As a group, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

PepsiCo Company 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.