Douglass Winthrop Advisors LLC Sells 1,173 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Douglass Winthrop Advisors LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,096 shares of the company’s stock after selling 1,173 shares during the period. Douglass Winthrop Advisors LLC’s holdings in PepsiCo were worth $8,009,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Meixler Investment Management Ltd. grew its stake in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC lifted its position in PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Bank of Stockton grew its holdings in shares of PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC increased its stake in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on PEP shares. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research note 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 for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

PEP opened at $162.00 on Monday. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The stock has a 50-day moving average price of $169.01 and a 200-day moving average price of $170.89. The firm has a market cap of $222.26 billion, a PE ratio of 23.89, a P/E/G ratio of 3.02 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.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm 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 annualized dividend and a yield of 3.35%. PepsiCo’s payout ratio is 79.94%.

PepsiCo Company 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.