PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the third quarter, Holdings Channel reports. The institutional investor owned 73,867 shares of the company’s stock after selling 401 shares during the period. PepsiCo makes up 2.3% of Sky Investment Group LLC’s holdings, making the stock its 6th biggest holding. Sky Investment Group LLC’s holdings in PepsiCo were worth $12,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Meixler Investment Management Ltd. grew its position in shares of PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC raised its position in shares of PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares during the period. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton lifted its holdings in shares of PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC grew its stake in PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PEP stock traded down $1.10 on Tuesday, hitting $173.91. 524,388 shares of the company’s stock traded hands, compared to its average volume of 5,472,973. 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 $239.09 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 3.28 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The stock has a fifty day moving average of $173.86 and a 200-day moving average of $172.19.

PepsiCo (NASDAQ:PEP) last released 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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $2.25 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEP. Royal Bank of Canada reduced their price target 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. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Jefferies Financial Group cut their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company decreased their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus target price of $183.92.

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.