Old Port Advisors Sells 188 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Old Port Advisors lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,564 shares of the company’s stock after selling 188 shares during the quarter. Old Port Advisors’ holdings in PepsiCo were worth $998,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PEP. SK Wealth Management LLC acquired a new stake in shares of PepsiCo in the third quarter valued at about $384,000. Independent Solutions Wealth Management LLC raised its stake in shares of PepsiCo by 27.2% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 3,361 shares of the company’s stock worth $572,000 after purchasing an additional 719 shares in the last quarter. Brass Tax Wealth Management Inc. boosted its holdings in shares of PepsiCo by 8.7% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,660 shares of the company’s stock valued at $452,000 after buying an additional 212 shares during the last quarter. Retirement Systems of Alabama increased its holdings in PepsiCo by 22.1% during the third quarter. Retirement Systems of Alabama now owns 657,482 shares of the company’s stock worth $111,805,000 after buying an additional 118,983 shares during the last quarter. Finally, Inspire Trust Co. N.A. raised its position in PepsiCo by 12.4% during the third quarter. Inspire Trust Co. N.A. now owns 12,300 shares of the company’s stock worth $2,092,000 after acquiring an additional 1,355 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on PEP shares. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. 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. Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $184.31.

PepsiCo Stock Performance

NASDAQ:PEP traded down $0.09 during mid-day trading on Thursday, reaching $151.97. 812,128 shares of the company’s stock were exchanged, compared to its average volume of 5,585,426. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market capitalization of $208.50 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. PepsiCo, Inc. has a one year low of $149.71 and a one year high of $183.41. The business’s fifty day simple moving average is $160.39 and its two-hundred day simple moving average is $167.49.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.25 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share 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 given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

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.