Financial Advisory Partners LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Financial Advisory Partners LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 18,369 shares of the company’s stock after selling 309 shares during the period. Financial Advisory Partners LLC’s holdings in PepsiCo were worth $3,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. RMB Capital Management LLC raised its holdings in shares of PepsiCo by 19.1% during the fourth quarter. RMB Capital Management LLC now owns 48,146 shares of the company’s stock valued at $8,177,000 after acquiring an additional 7,726 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of PepsiCo by 812.0% during the fourth quarter. True Wealth Design LLC now owns 228 shares of the company’s stock valued at $39,000 after acquiring an additional 203 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in shares of PepsiCo by 39.0% during the fourth quarter. Vivaldi Capital Management LP now owns 2,439 shares of the company’s stock valued at $412,000 after acquiring an additional 684 shares in the last quarter. LM Advisors LLC bought a new position in shares of PepsiCo during the fourth quarter valued at $262,000. Finally, Orleans Capital Management Corp LA increased its holdings in shares of PepsiCo by 1.8% during the fourth quarter. Orleans Capital Management Corp LA now owns 10,943 shares of the company’s stock valued at $1,859,000 after acquiring an additional 190 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.2 %

PEP traded up $0.34 during trading hours on Thursday, reaching $172.88. 1,767,474 shares of the company’s stock traded hands, compared to its average volume of 5,496,523. The firm has a 50-day moving average price of $173.62 and a 200 day moving average price of $172.06. PepsiCo, Inc. has a 52-week low of $157.43 and a 52-week high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $237.67 billion, a PE ratio of 24.95, a PEG ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the business earned $2.25 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.13 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEP. Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $184.07.

PepsiCo Company 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.