PepsiCo, Inc. (NASDAQ:PEP) Stake Cut by Continuum Advisory LLC

Continuum Advisory LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,076 shares of the company’s stock after selling 739 shares during the period. Continuum Advisory LLC’s holdings in PepsiCo were worth $1,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates boosted 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 acquiring an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC grew its stake in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo in the second quarter worth $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in PepsiCo in the third quarter valued at $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ PEP opened at $159.47 on Tuesday. 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 $155.85 and a 1 year high of $183.41. The stock has a market capitalization of $218.79 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.94 and a beta of 0.52. The business’s fifty day moving average is $166.62 and its two-hundred day moving average is $169.42.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $23.86 billion. During the same quarter in the prior year, the business earned $2.25 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.40%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analysts Set New Price Targets

Several equities analysts have recently commented on PEP shares. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently 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.