Resources Management Corp CT ADV Sells 109 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Resources Management Corp CT ADV trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 73,502 shares of the company’s stock after selling 109 shares during the period. PepsiCo comprises approximately 1.7% of Resources Management Corp CT ADV’s holdings, making the stock its 17th largest holding. Resources Management Corp CT ADV’s holdings in PepsiCo were worth $12,499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEP. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in the third 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 last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the 3rd quarter worth $28,000. POM Investment Strategies LLC grew its stake in shares of PepsiCo by 141.3% during 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 period. Summit Securities Group LLC bought a new stake in PepsiCo in the second quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter valued at about $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.1 %

Shares of PEP stock opened at $159.47 on Tuesday. The firm’s fifty day moving average price is $166.62 and its two-hundred day moving average price is $169.42. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. 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 $218.79 billion, a P/E ratio of 23.52, a PEG ratio of 2.94 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the prior year, the company posted $2.25 earnings per share. PepsiCo’s revenue was down .6% on a year-over-year basis. On average, equities analysts predict 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. Stockholders 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 annualized dividend and a dividend yield of 3.40%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PEP shares. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average 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.