First Dallas Securities Inc. Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

First Dallas Securities Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 21.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,845 shares of the company’s stock after selling 797 shares during the quarter. First Dallas Securities Inc.’s holdings in PepsiCo were worth $484,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC raised its position in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the last quarter. Janus Henderson Group PLC raised its position in PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares during the last quarter. IHT Wealth Management LLC raised its position in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in PepsiCo during the 3rd quarter worth approximately $9,589,000. Finally, Kestra Investment Management LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at approximately $527,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. cut their target price 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. Deutsche Bank Aktiengesellschaft dropped 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. Bank of America dropped their price target 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. Finally, Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. 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 stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 1.1 %

Shares of PEP stock opened at $159.47 on Tuesday. The company’s 50-day moving average price is $166.62 and its 200-day moving average price is $169.42. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $218.79 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 2.94 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 EPS. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

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

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.