PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by MGB Wealth Management LLC

MGB Wealth Management LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 22.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,328 shares of the company’s stock after selling 380 shares during the quarter. MGB Wealth Management LLC’s holdings in PepsiCo were worth $226,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PEP. Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Legal & General Group Plc raised its stake in PepsiCo by 7.2% during the second 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 raised its stake in PepsiCo by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock worth $1,765,735,000 after acquiring an additional 236,091 shares during the period. Dimensional Fund Advisors LP raised its stake in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after acquiring an additional 561,465 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after acquiring an additional 57,322 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 1.0 %

Shares of NASDAQ:PEP opened at $162.00 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market capitalization of $222.26 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.99 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The company has a 50 day moving average price of $169.01 and a 200 day moving average price of $170.94.

PepsiCo (NASDAQ:PEP) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.25 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.35%. PepsiCo’s payout ratio is 79.94%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEP. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.