Legend Financial Advisors Inc. Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Legend Financial Advisors Inc. decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,327 shares of the company’s stock after selling 74 shares during the quarter. Legend Financial Advisors Inc.’s holdings in PepsiCo were worth $226,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after buying an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after buying an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG increased its holdings in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PEP. Jefferies Financial Group lowered their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company reduced their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Up 0.2 %

NASDAQ PEP opened at $175.06 on Friday. The firm has a market capitalization of $240.18 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 3.28 and a beta of 0.53. 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 one year low of $158.03 and a one year high of $183.41. The company’s 50 day moving average price is $173.78 and its 200 day moving average price is $172.13.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. On average, 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. Investors of record on Friday, September 6th were issued a $1.355 dividend. 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 dividend 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.