PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Cypress Capital Group

Cypress Capital Group reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 30,694 shares of the company’s stock after selling 857 shares during the period. Cypress Capital Group’s holdings in PepsiCo were worth $5,220,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of PepsiCo by 12.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,141,904 shares of the company’s stock valued at $194,180,000 after buying an additional 129,358 shares during the last quarter. Cornerstone Advisors LLC boosted its holdings in shares of PepsiCo by 4.5% during the 3rd quarter. Cornerstone Advisors LLC now owns 76,200 shares of the company’s stock worth $12,958,000 after purchasing an additional 3,300 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of PepsiCo by 7.6% in the third quarter. Citizens Financial Group Inc. RI now owns 230,480 shares of the company’s stock valued at $39,193,000 after purchasing an additional 16,284 shares during the last quarter. Moran Wealth Management LLC lifted its position in PepsiCo by 0.4% during the third quarter. Moran Wealth Management LLC now owns 65,506 shares of the company’s stock worth $11,139,000 after buying an additional 253 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its stake in PepsiCo by 0.6% during the third quarter. Moors & Cabot Inc. now owns 107,916 shares of the company’s stock worth $18,351,000 after buying an additional 635 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 1.3 %

Shares of PepsiCo stock opened at $158.74 on Thursday. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The company has a 50 day moving average of $169.66 and a 200 day moving average of $171.16. The company has a market capitalization of $217.79 billion, a P/E ratio of 23.41, a P/E/G ratio of 2.92 and a beta of 0.53. 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 announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the business earned $2.25 EPS. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.41%. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PEP shares. JPMorgan Chase & Co. cut 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. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, Redburn Atlantic raised shares of 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, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $183.92.

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.