Carl P. Sherr & Co. LLC Has $1.22 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Carl P. Sherr & Co. LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 29.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,157 shares of the company’s stock after selling 2,979 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in PepsiCo were worth $1,217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peterson Wealth Management lifted its position in shares of PepsiCo by 0.4% during the 3rd quarter. Peterson Wealth Management now owns 34,691 shares of the company’s stock valued at $5,899,000 after acquiring an additional 153 shares during the period. Vinva Investment Management Ltd lifted its position in shares of PepsiCo by 4.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 76,650 shares of the company’s stock valued at $13,030,000 after acquiring an additional 3,519 shares during the period. Financial Counselors Inc. lifted its position in shares of PepsiCo by 2.6% during the 3rd quarter. Financial Counselors Inc. now owns 364,673 shares of the company’s stock valued at $62,013,000 after acquiring an additional 9,300 shares during the period. Public Sector Pension Investment Board lifted its position in shares of PepsiCo by 30.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 69,036 shares of the company’s stock worth $11,740,000 after buying an additional 16,200 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PepsiCo by 2.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 570,680 shares of the company’s stock worth $97,044,000 after buying an additional 11,226 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEP. Royal Bank of Canada dropped their price objective 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. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Finally, Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Up 0.3 %

Shares of NASDAQ:PEP opened at $162.72 on Friday. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The business’s 50 day simple moving average is $167.95 and its two-hundred day simple moving average is $170.55. The firm has a market cap of $223.25 billion, a P/E ratio of 24.00, a PEG ratio of 3.03 and a beta of 0.53.

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

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

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.