Constitution Capital LLC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Constitution Capital LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 15.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 65,377 shares of the company’s stock after selling 12,212 shares during the period. PepsiCo accounts for approximately 5.9% of Constitution Capital LLC’s portfolio, making the stock its 3rd largest holding. Constitution Capital LLC’s holdings in PepsiCo were worth $11,117,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PEP. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the period. Valued Wealth Advisors LLC lifted its stake in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its holdings 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 purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo in the second quarter worth $30,000. Finally, Fortis Group Advisors LLC raised its position in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.0 %

Shares of PEP traded up $0.01 on Monday, hitting $174.82. 209,788 shares of the stock traded hands, compared to its average volume of 5,483,705. The company has a market capitalization of $240.34 billion, a PE ratio of 25.37, a P/E/G ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89. The business has a 50 day simple moving average of $173.52 and a 200 day simple moving average of $172.07.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a report on Thursday. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.