CFS Investment Advisory Services LLC Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

CFS Investment Advisory Services LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 49.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,438 shares of the company’s stock after selling 13,076 shares during the period. CFS Investment Advisory Services LLC’s holdings in PepsiCo were worth $2,285,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the third quarter valued at approximately $28,000. POM Investment Strategies LLC grew 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 last quarter. Summit Securities Group LLC purchased a new position in shares of PepsiCo in the second quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the 2nd quarter valued at $34,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Up 1.0 %

Shares of NASDAQ PEP opened at $160.29 on Friday. The stock has a market cap of $219.92 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 2.92 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 0.70. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The firm has a 50-day moving average of $169.32 and a 200 day moving average of $171.08.

PepsiCo (NASDAQ:PEP) last posted 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 quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.25 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.38%. PepsiCo’s dividend payout ratio 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.