Courier Capital LLC Sells 325 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Courier Capital LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 50,923 shares of the company’s stock after selling 325 shares during the quarter. Courier Capital LLC’s holdings in PepsiCo were worth $8,659,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Flossbach Von Storch AG raised its position in shares of PepsiCo by 67.2% in the 1st 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. Swedbank AB raised its position in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. raised its position in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp raised its position 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 valued at $254,603,000 after purchasing an additional 1,179,922 shares during the last quarter. Finally, Legal & General Group Plc raised its position in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

PepsiCo stock traded down $1.33 during trading on Wednesday, reaching $173.04. The company had a trading volume of 1,083,171 shares, compared to its average volume of 5,467,276. The firm’s 50-day simple moving average is $173.90 and its 200 day simple moving average is $172.23. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The firm has a market capitalization of $237.41 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.26 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last released its quarterly 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the company earned $2.25 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid 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 3.13%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analyst Weigh In

PEP has been the subject of a number of recent research reports. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

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.