Sweet Financial Partners LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Sweet Financial Partners LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,433 shares of the company’s stock after selling 518 shares during the period. Sweet Financial Partners LLC’s holdings in PepsiCo were worth $2,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Meixler Investment Management Ltd. increased its position in shares of PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares during the last quarter. Opes Wealth Management LLC raised its stake in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after acquiring an additional 59 shares during the period. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton boosted its stake in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC grew its holdings in PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $174.67 on Friday. The company’s 50 day moving average is $173.73 and its 200 day moving average is $172.12. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a market cap of $240.13 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 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 firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the company posted $2.25 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada dropped their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock 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.