Gerber LLC Sells 66 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Gerber LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,009 shares of the company’s stock after selling 66 shares during the period. Gerber LLC’s holdings in PepsiCo were worth $342,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG raised its stake in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PEP shares. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group reduced their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

PepsiCo stock traded up $0.49 during trading hours on Monday, hitting $175.55. The company had a trading volume of 2,289,191 shares, compared to its average volume of 5,479,053. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The firm has a 50-day moving average of $173.78 and a 200 day moving average of $172.15. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market cap of $241.34 billion, a PE ratio of 25.70, a PEG ratio of 3.28 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 company 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 posted $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

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.