PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,269 shares of the company’s stock after selling 1,752 shares during the quarter. Hartford Investment Management Co.’s holdings in PepsiCo were worth $14,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Meixler Investment Management Ltd. raised its stake in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after acquiring an additional 58 shares during the period. Opes Wealth Management LLC lifted its stake in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares in the last quarter. Global Wealth Strategies & Associates grew its stake in shares of 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. Bank of Stockton grew its holdings in PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC grew its stake in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after acquiring an additional 60 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP traded down $0.97 during midday trading on Wednesday, hitting $173.40. 298,428 shares of the stock traded hands, compared to its average volume of 5,463,663. 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, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The business’s 50 day moving average price is $173.90 and its two-hundred day moving average price is $172.23. The firm has a market capitalization of $237.90 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 3.26 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm 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 prior year, the firm earned $2.25 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business 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 payout ratio is 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of several analyst reports. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Finally, Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average target price 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.