Reynders McVeigh Capital Management LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Reynders McVeigh Capital Management LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,708 shares of the company’s stock after selling 710 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in PepsiCo were worth $4,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Foresight Capital Management Advisors Inc. lifted its stake in shares of PepsiCo by 4.6% during the second quarter. Foresight Capital Management Advisors Inc. now owns 14,089 shares of the company’s stock worth $2,324,000 after purchasing an additional 624 shares in the last quarter. Guinness Asset Management LTD increased its holdings in PepsiCo by 23.1% in the second quarter. Guinness Asset Management LTD now owns 1,123,800 shares of the company’s stock valued at $185,390,000 after buying an additional 210,555 shares during the last quarter. Guinness Atkinson Asset Management Inc increased its holdings in PepsiCo by 26.6% in the second quarter. Guinness Atkinson Asset Management Inc now owns 5,179 shares of the company’s stock valued at $854,000 after buying an additional 1,087 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in PepsiCo by 0.4% in the second quarter. Salem Investment Counselors Inc. now owns 297,279 shares of the company’s stock valued at $49,030,000 after buying an additional 1,181 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. increased its holdings in PepsiCo by 21.1% in the second quarter. Ables Iannone Moore & Associates Inc. now owns 7,039 shares of the company’s stock valued at $1,161,000 after buying an additional 1,228 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent research reports. 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 raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. One research 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

NASDAQ PEP opened at $161.70 on Wednesday. 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 firm has a market capitalization of $221.85 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 3.04 and a beta of 0.52. The firm’s 50 day simple moving average is $167.45 and its 200 day simple moving average is $170.01. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, December 6th. 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.