McCollum Christoferson Group LLC Sells 304 Shares of PepsiCo, Inc. (NASDAQ:PEP)

McCollum Christoferson Group LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 54,664 shares of the company’s stock after selling 304 shares during the period. PepsiCo accounts for 2.7% of McCollum Christoferson Group LLC’s portfolio, making the stock its 13th largest position. McCollum Christoferson Group LLC’s holdings in PepsiCo were worth $9,296,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Flossbach Von Storch AG grew its stake in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Swedbank AB grew its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. grew its stake in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp grew its stake in PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PEP. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday, September 20th. Jefferies Financial Group lowered their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

Shares of PEP stock opened at $174.48 on Thursday. The firm has a market capitalization of $239.87 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The business has a fifty day moving average of $173.68 and a 200 day moving average of $172.10. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year 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, topping the consensus estimate of $2.30 by $0.01. The company 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 firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $2.25 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business 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 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

PepsiCo 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.