Icon Wealth Advisors LLC Sells 96 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Icon Wealth Advisors LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,322 shares of the company’s stock after selling 96 shares during the period. Icon Wealth Advisors LLC’s holdings in PepsiCo were worth $4,816,000 as of its most recent filing with the Securities and Exchange Commission.

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

PepsiCo Stock Up 0.3 %

Shares of NASDAQ:PEP opened at $162.72 on Friday. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The company has a market cap of $223.25 billion, a PE ratio of 24.00, a P/E/G ratio of 3.03 and a beta of 0.53. 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 stock’s 50-day moving average is $167.95 and its 200 day moving average is $170.55.

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, beating 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 for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 EPS. PepsiCo’s revenue was down .6% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders 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 dividend yield of 3.33%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Ratings Changes

Several research firms recently issued reports on PEP. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock 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. JPMorgan Chase & Co. lowered their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.