PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Proquility Private Wealth Partners LLC

Proquility Private Wealth Partners LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,510 shares of the company’s stock after selling 421 shares during the period. Proquility Private Wealth Partners LLC’s holdings in PepsiCo were worth $1,277,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Scarborough Advisors LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $103,000. Compass Wealth Management LLC lifted its holdings in PepsiCo by 4.2% during the 1st quarter. Compass Wealth Management LLC now owns 24,079 shares of the company’s stock worth $4,214,000 after buying an additional 975 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of PepsiCo by 17.1% during the 1st quarter. GAMMA Investing LLC now owns 13,635 shares of the company’s stock worth $2,386,000 after acquiring an additional 1,990 shares in the last quarter. Marion Wealth Management increased its holdings in shares of PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after acquiring an additional 494 shares during the last quarter. Finally, Atlas Brown Inc. raised its position in shares of PepsiCo by 8.8% during the 1st quarter. Atlas Brown Inc. now owns 25,193 shares of the company’s stock worth $4,409,000 after acquiring an additional 2,030 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company dropped their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group reduced their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $175.66 on Wednesday. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a 50-day moving average price of $173.63 and a 200 day moving average price of $172.08. The company has a market cap of $241.49 billion, a P/E ratio of 25.53, a PEG ratio of 3.11 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 earnings per share. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share 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 3.09%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 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.