Bank Pictet & Cie Europe AG Sells 12,533 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bank Pictet & Cie Europe AG cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,849 shares of the company’s stock after selling 12,533 shares during the period. PepsiCo accounts for 1.8% of Bank Pictet & Cie Europe AG’s holdings, making the stock its 14th biggest holding. Bank Pictet & Cie Europe AG’s holdings in PepsiCo were worth $78,027,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lecap Asset Management Ltd. bought a new stake in PepsiCo in the 3rd quarter valued at $2,296,000. Marietta Wealth Management LLC grew its position in shares of PepsiCo by 4.1% during the third quarter. Marietta Wealth Management LLC now owns 49,788 shares of the company’s stock valued at $8,466,000 after purchasing an additional 1,971 shares in the last quarter. Community Trust & Investment Co. increased its holdings in shares of PepsiCo by 15.7% in the third quarter. Community Trust & Investment Co. now owns 5,124 shares of the company’s stock worth $871,000 after purchasing an additional 697 shares during the last quarter. Maryland Capital Advisors Inc. boosted its stake in PepsiCo by 330.0% during the third quarter. Maryland Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $73,000 after buying an additional 330 shares during the last quarter. Finally, Narwhal Capital Management grew its holdings in PepsiCo by 16.0% during the 3rd quarter. Narwhal Capital Management now owns 54,415 shares of the company’s stock valued at $9,253,000 after buying an additional 7,511 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays reduced their target price 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. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

PEP stock opened at $174.37 on Wednesday. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The firm has a market cap of $239.23 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.26 and a beta of 0.53. The business’s fifty day simple moving average is $173.90 and its two-hundred day simple moving average is $172.23. The company has a quick ratio of 0.70, a current ratio of 0.89 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 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 EPS. Analysts predict 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 was paid on Monday, September 30th. Investors of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.11%. PepsiCo’s payout ratio is 79.94%.

PepsiCo 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.