Bard Financial Services Inc. Has $12.04 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bard Financial Services Inc. trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the third quarter, Holdings Channel reports. The firm owned 70,796 shares of the company’s stock after selling 672 shares during the quarter. PepsiCo comprises about 1.4% of Bard Financial Services Inc.’s holdings, making the stock its 15th largest position. Bard Financial Services Inc.’s holdings in PepsiCo were worth $12,039,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its stake in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Geode Capital Management LLC raised its stake in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Legal & General Group Plc increased its holdings in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in PepsiCo by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after purchasing an additional 313,468 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PEP stock opened at $159.08 on Wednesday. The firm has a 50 day moving average price of $166.62 and a 200-day moving average price of $169.42. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The firm has a market capitalization of $218.26 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.94 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last released its earnings results 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the business earned $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed 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 is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.41%. PepsiCo’s payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Barclays decreased their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.