Hexagon Capital Partners LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Hexagon Capital Partners LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,607 shares of the company’s stock after selling 503 shares during the quarter. Hexagon Capital Partners LLC’s holdings in PepsiCo were worth $783,000 at the end of the most recent reporting period.

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

PepsiCo Stock Up 1.2 %

Shares of PEP opened at $172.54 on Thursday. PepsiCo, Inc. has a 12-month low of $157.43 and a 12-month high of $183.41. The firm has a fifty day moving average price of $173.63 and a 200-day moving average price of $172.06. The firm has a market capitalization of $237.21 billion, a P/E ratio of 25.04, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last issued its 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 business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.13 earnings per share for the current year.

PepsiCo Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PEP shares. TD Cowen lowered their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Jefferies Financial Group reduced their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Royal Bank of Canada lowered their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Bank of America reduced 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. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $184.79.

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.