Patten Group Inc. Has $3.16 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Patten Group Inc. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,557 shares of the company’s stock after selling 245 shares during the quarter. Patten Group Inc.’s holdings in PepsiCo were worth $3,156,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Legal & General Group Plc boosted its stake in PepsiCo by 7.2% in 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 acquiring an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its position in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PEP. BNP Paribas initiated coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Barclays reduced their price objective on PepsiCo from $187.00 to $186.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, Wells Fargo & Company lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $184.79.

PepsiCo Stock Performance

Shares of PEP opened at $172.54 on Thursday. The company has a market capitalization of $237.21 billion, a price-to-earnings ratio of 25.04, a PEG 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 stock has a 50 day moving average of $173.63 and a 200 day moving average of $172.06. PepsiCo, Inc. has a 12 month low of $157.43 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The company 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%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.13 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently declared 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. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.14%. PepsiCo’s payout ratio is 78.66%.

PepsiCo 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.