Park Avenue Securities LLC Sells 4,877 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Park Avenue Securities LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 8.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,015 shares of the company’s stock after selling 4,877 shares during the period. Park Avenue Securities LLC’s holdings in PepsiCo were worth $8,845,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC increased its stake in PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after acquiring an additional 139 shares during the period. Norden Group LLC increased its stake in PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after acquiring an additional 174,171 shares during the period. Marion Wealth Management increased its stake in PepsiCo by 6.3% during the first 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 period. Public Employees Retirement System of Ohio increased its stake in PepsiCo by 1.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after acquiring an additional 11,485 shares during the period. Finally, Meyer Handelman Co. increased its stake in PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after acquiring an additional 9,465 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 0.3 %

PEP traded down $0.56 during mid-day trading on Friday, reaching $167.97. The stock had a trading volume of 4,391,321 shares, compared to its average volume of 5,492,783. The stock has a market capitalization of $230.92 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.93 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm’s fifty day simple moving average is $173.80 and its two-hundred day simple moving average is $172.10. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.14 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.23%. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on PepsiCo from $182.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen dropped their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Jefferies Financial Group dropped 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, Barclays dropped their target price on PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.29.

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.