PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Richwood Investment Advisors LLC

Richwood Investment Advisors LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,735 shares of the company’s stock after selling 634 shares during the period. PepsiCo accounts for about 0.8% of Richwood Investment Advisors LLC’s holdings, making the stock its 28th largest holding. Richwood Investment Advisors LLC’s holdings in PepsiCo were worth $975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flossbach Von Storch AG boosted its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the period. PineStone Asset Management Inc. boosted its holdings in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares during the period. Van ECK Associates Corp grew its position in shares of PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after acquiring an additional 1,179,922 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in PepsiCo in the 1st quarter valued at $166,243,000. Finally, Legal & General Group Plc boosted its stake in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Jefferies Financial Group dropped their target price on 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 PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

PEP traded up $0.73 on Tuesday, hitting $176.83. 1,098,744 shares of the company were exchanged, compared to its average volume of 5,483,409. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89. The firm has a market capitalization of $243.10 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The business’s fifty day moving average is $173.56 and its 200 day moving average is $172.08.

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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 EPS. The company’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

PepsiCo 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.