Aprio Wealth Management LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Aprio Wealth Management LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,981 shares of the company’s stock after selling 501 shares during the quarter. Aprio Wealth Management LLC’s holdings in PepsiCo were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PEP. Meixler Investment Management Ltd. lifted its position in shares of PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC lifted its position in shares of PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Bank of Stockton lifted its position in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its position in shares of PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several research reports. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. upped their price target on shares of PepsiCo from $182.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Barclays reduced their price target on shares of PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday. BNP Paribas initiated coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Finally, TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $185.29.

PepsiCo Price Performance

NASDAQ:PEP opened at $167.21 on Tuesday. The firm has a market cap of $229.67 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth 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. The company’s 50-day moving average is $173.80 and its two-hundred day moving average is $172.11. PepsiCo, Inc. has a 12-month low of $157.43 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Research analysts expect that PepsiCo, Inc. will post 8.13 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.24%. PepsiCo’s payout ratio is currently 78.66%.

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.