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

Rehmann Capital Advisory Group lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,662 shares of the company’s stock after selling 892 shares during the quarter. Rehmann Capital Advisory Group’s holdings in PepsiCo were worth $2,323,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC increased its holdings in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after acquiring an additional 34,633 shares during the period. IHT Wealth Management LLC increased its stake in shares of PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in PepsiCo in the 3rd quarter worth about $9,589,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of PepsiCo in the third quarter valued at approximately $527,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $159.84 on Wednesday. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The business has a fifty day moving average of $166.62 and a two-hundred day moving average of $169.42. The stock has a market cap of $219.30 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. 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 issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 EPS. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.39%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada dropped their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo 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.