Procyon Advisors LLC Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Procyon Advisors LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,365 shares of the company’s stock after selling 8,766 shares during the period. Procyon Advisors LLC’s holdings in PepsiCo were worth $4,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Valued Wealth Advisors LLC increased its holdings 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 acquiring an additional 69 shares in the last quarter. Global Wealth Strategies & Associates increased its stake in shares of PepsiCo by 59.0% in 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. POM Investment Strategies LLC raised its position in shares of PepsiCo by 141.3% during 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 PepsiCo in the 2nd quarter worth $30,000. Finally, Fortis Group Advisors LLC increased its stake in PepsiCo by 100.0% in the 4th 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. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price objective 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. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Wells Fargo & Company decreased their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

NASDAQ:PEP opened at $174.65 on Monday. The firm has a market capitalization of $240.11 billion, a PE ratio of 25.37, a PEG ratio of 3.11 and a beta of 0.53. The stock’s fifty day moving average is $173.52 and its 200 day moving average is $172.07. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week 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.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share 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 issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s payout ratio is 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.