McKinley Carter Wealth Services Inc. Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

McKinley Carter Wealth Services Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,930 shares of the company’s stock after selling 340 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in PepsiCo were worth $6,960,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates increased its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Valued Wealth Advisors LLC grew its position in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC increased its holdings in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the second quarter worth $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo during the second quarter worth about $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Royal Bank of Canada dropped their target price 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. Barclays decreased their price target 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. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.7 %

Shares of PepsiCo stock traded down $1.16 on Wednesday, hitting $174.74. The stock had a trading volume of 563,890 shares, compared to its average volume of 5,482,329. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The stock’s 50-day simple moving average is $173.63 and its two-hundred day simple moving average is $172.08. The stock has a market cap of $240.23 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.11 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 EPS. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

About PepsiCo

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.