PepsiCo, Inc. (NASDAQ:PEP) Position Lowered by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 68,812 shares of the company’s stock after selling 5,800 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in PepsiCo were worth $11,653,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PEP. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter worth about $28,000. POM Investment Strategies LLC increased its stake 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 period. Summit Securities Group LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new position in PepsiCo in the 3rd quarter worth approximately $31,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEP. Royal Bank of Canada reduced their price target on 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 PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $184.31.

PepsiCo Stock Performance

NASDAQ:PEP opened at $157.97 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The firm’s fifty day simple moving average is $165.74 and its 200 day simple moving average is $168.99. The firm has a market capitalization of $216.73 billion, a PE ratio of 23.30, a PEG ratio of 2.92 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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 business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 EPS. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business 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 payout ratio is currently 79.94%.

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.