Headinvest LLC Sells 709 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Headinvest LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 45,872 shares of the company’s stock after selling 709 shares during the quarter. PepsiCo accounts for approximately 1.4% of Headinvest LLC’s investment portfolio, making the stock its 20th biggest holding. Headinvest LLC’s holdings in PepsiCo were worth $7,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Fermata Advisors LLC increased its holdings in PepsiCo by 25.8% in the 2nd quarter. Fermata Advisors LLC now owns 1,477 shares of the company’s stock worth $244,000 after buying an additional 303 shares in the last quarter. RFG Advisory LLC grew its stake in shares of PepsiCo by 11.1% in the second quarter. RFG Advisory LLC now owns 18,722 shares of the company’s stock worth $3,088,000 after acquiring an additional 1,876 shares during the period. Matrix Asset Advisors Inc. NY lifted its position in PepsiCo by 251.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 30,566 shares of the company’s stock valued at $5,041,000 after purchasing an additional 21,880 shares during the period. D.B. Root & Company LLC boosted its holdings in PepsiCo by 17.1% in the second quarter. D.B. Root & Company LLC now owns 4,814 shares of the company’s stock worth $794,000 after purchasing an additional 702 shares during the last quarter. Finally, Occidental Asset Management LLC grew its position in PepsiCo by 7.4% in the 2nd quarter. Occidental Asset Management LLC now owns 19,511 shares of the company’s stock worth $3,218,000 after purchasing an additional 1,348 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PEP opened at $157.79 on Friday. The company has a 50 day simple moving average of $166.83 and a two-hundred day simple moving average of $169.64. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market cap of $216.49 billion, a P/E ratio of 23.27, a PEG ratio of 2.98 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 EPS. Equities analysts forecast 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 will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has a consensus 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.