Successful Portfolios LLC Has $700,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Successful Portfolios LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,118 shares of the company’s stock after selling 107 shares during the quarter. Successful Portfolios LLC’s holdings in PepsiCo were worth $700,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc grew its position 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 buying an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its holdings in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.1 %

PEP stock traded up $0.21 during trading on Friday, reaching $173.20. The company had a trading volume of 988,427 shares, compared to its average volume of 5,491,231. PepsiCo, Inc. has a 52 week low of $157.43 and a 52 week high of $183.41. The company has a market cap of $237.63 billion, a P/E ratio of 25.59, a PEG ratio of 3.11 and a beta of 0.53. The business has a 50 day moving average of $173.59 and a 200 day moving average of $172.07. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64.

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

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.13%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada reduced their target price 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. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $184.07.

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.