PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 82.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,138 shares of the company’s stock after selling 5,527 shares during the quarter. Quest Partners LLC’s holdings in PepsiCo were worth $194,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PEP. Strategic Wealth Partners Ltd. increased its position in shares of PepsiCo by 3.1% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 3,438 shares of the company’s stock valued at $602,000 after purchasing an additional 102 shares during the period. FSA Advisors Inc. grew its holdings in shares of PepsiCo by 7.6% in the 1st quarter. FSA Advisors Inc. now owns 1,541 shares of the company’s stock worth $270,000 after acquiring an additional 109 shares during the last quarter. Dodds Wealth LLC grew its holdings in shares of PepsiCo by 122.9% in the 1st quarter. Dodds Wealth LLC now owns 3,069 shares of the company’s stock worth $537,000 after acquiring an additional 1,692 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of PepsiCo by 256.1% in the 1st quarter. Cetera Investment Advisers now owns 461,377 shares of the company’s stock worth $80,746,000 after acquiring an additional 331,827 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of PepsiCo by 65.9% in the 1st quarter. Cetera Advisors LLC now owns 148,850 shares of the company’s stock worth $26,050,000 after acquiring an additional 59,131 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

PEP opened at $162.72 on Thursday. The stock has a market cap of $223.25 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 3.04 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 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 stock has a fifty day moving average price of $168.18 and a 200 day moving average price of $170.60.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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. The firm had revenue of $23.32 billion during 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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. Analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.33%. PepsiCo’s dividend payout ratio is currently 79.94%.

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.