Probity Advisors Inc. Sells 67 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Probity Advisors Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,672 shares of the company’s stock after selling 67 shares during the quarter. Probity Advisors Inc.’s holdings in PepsiCo were worth $454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the second quarter valued at approximately $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.4 %

Shares of PepsiCo stock opened at $173.71 on Thursday. The firm has a 50-day moving average of $173.68 and a 200-day moving average of $172.10. The stock has a market cap of $238.81 billion, a PE ratio of 25.32, a PEG ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 earnings per share. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.12%. PepsiCo’s dividend payout ratio is 78.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PEP shares. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Finally, 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $183.92.

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.