United Services Automobile Association Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

United Services Automobile Association trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 24.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,222 shares of the company’s stock after selling 103,509 shares during the period. PepsiCo accounts for about 1.4% of United Services Automobile Association’s investment portfolio, making the stock its 18th biggest holding. United Services Automobile Association’s holdings in PepsiCo were worth $54,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the 3rd 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 period. Highline Wealth Partners LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new position in PepsiCo in the second quarter worth about $30,000. Finally, Rakuten Securities Inc. raised its holdings in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $157.79 on Friday. The firm has a market capitalization of $216.49 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 2.98 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $155.85 and a 12-month high of $183.41. The firm has a 50 day moving average of $166.83 and a 200 day moving average of $169.72. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 earnings per share. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company 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 $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.43%. PepsiCo’s payout ratio is currently 79.94%.

Analyst Ratings Changes

Several research analysts have issued reports on PEP shares. Deutsche Bank Aktiengesellschaft decreased their target price 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. 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 report on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $183.92.

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.