B. Riley Wealth Advisors Inc. Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

B. Riley Wealth Advisors Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,812 shares of the company’s stock after selling 5,800 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in PepsiCo were worth $11,653,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Gradient Investments LLC raised its position in PepsiCo by 29.9% in the 2nd quarter. Gradient Investments LLC now owns 4,831 shares of the company’s stock valued at $797,000 after purchasing an additional 1,113 shares during the last quarter. ARS Wealth Advisors Group LLC raised its holdings in shares of PepsiCo by 1.3% in the second quarter. ARS Wealth Advisors Group LLC now owns 100,281 shares of the company’s stock valued at $16,539,000 after buying an additional 1,333 shares during the last quarter. Boomfish Wealth Group LLC boosted its stake in shares of PepsiCo by 3.3% during the second quarter. Boomfish Wealth Group LLC now owns 7,974 shares of the company’s stock worth $1,315,000 after buying an additional 258 shares during the period. Marietta Wealth Management LLC grew its holdings in shares of PepsiCo by 25.9% during the second quarter. Marietta Wealth Management LLC now owns 47,817 shares of the company’s stock worth $7,886,000 after buying an additional 9,851 shares during the last quarter. Finally, Signet Investment Advisory Group Inc. increased its position in PepsiCo by 8.6% in the 2nd quarter. Signet Investment Advisory Group Inc. now owns 16,766 shares of the company’s stock valued at $2,765,000 after acquiring an additional 1,331 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ:PEP opened at $157.97 on Friday. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The stock has a 50-day simple moving average of $165.74 and a 200-day simple moving average of $168.99. The stock has a market capitalization of $216.73 billion, a P/E ratio of 23.30, a PEG ratio of 2.92 and a beta of 0.52. 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 released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $2.25 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.43%. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PEP shares. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $184.31.

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.