Bleakley Financial Group LLC Sells 1,079 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bleakley Financial Group LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,116 shares of the company’s stock after selling 1,079 shares during the quarter. Bleakley Financial Group LLC’s holdings in PepsiCo were worth $6,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC grew its stake in shares of PepsiCo by 3.6% in the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares during the period. Norden Group LLC grew its stake in shares of PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the period. Meyer Handelman Co. grew its stake in shares of PepsiCo by 3.9% in the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after acquiring an additional 9,465 shares during the period. Global Assets Advisory LLC bought a new stake in shares of PepsiCo in the first quarter worth approximately $28,366,000. Finally, M&G Plc grew its stake in shares of PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on PEP. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. One research 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’s stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Up 0.1 %

Shares of PEP opened at $174.67 on Friday. The company’s fifty day moving average is $173.73 and its 200 day moving average is $172.12. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock has a market capitalization of $240.13 billion, a PE ratio of 25.35, a P/E/G ratio of 3.11 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating 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 previous year, the business posted $2.25 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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

PepsiCo Company 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.