Global Retirement Partners LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

Global Retirement Partners LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,184 shares of the company’s stock after selling 2,139 shares during the quarter. Global Retirement Partners LLC’s holdings in PepsiCo were worth $4,283,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEP. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Valued Wealth Advisors LLC raised its stake in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares during the period. POM Investment Strategies LLC grew its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo during the second quarter valued at $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.1 %

Shares of PEP opened at $174.67 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $173.73 and a 200 day moving average price of $172.12. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The firm has a market capitalization of $240.13 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.11 and a beta of 0.53.

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

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend 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%.

Analyst Ratings Changes

A number of analysts have recently commented on PEP shares. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. BNP Paribas started coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $183.92.

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.