PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 996,173 shares of the company’s stock after selling 13,459 shares during the quarter. PepsiCo accounts for approximately 0.8% of Glenmede Trust Co. NA’s portfolio, making the stock its 21st biggest position. Glenmede Trust Co. NA owned approximately 0.07% of PepsiCo worth $169,399,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC lifted its position in shares of 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. Meridian Wealth Management LLC purchased a new position in shares of PepsiCo during the third quarter worth about $9,589,000. M&G Plc increased its position in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in shares of PepsiCo by 3.5% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after purchasing an additional 4,547 shares during the last quarter. Finally, Fiduciary Family Office LLC boosted its position in shares of PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after purchasing an additional 3,727 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.5 %

Shares of PEP opened at $162.16 on Wednesday. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The stock has a fifty day moving average of $168.43 and a two-hundred day moving average of $170.66. 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 company has a market capitalization of $222.48 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 3.04 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm 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%. PepsiCo’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 earnings per share. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given 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 3.34%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

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.