Hardy Reed LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Hardy Reed LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,060 shares of the company’s stock after selling 184 shares during the period. Hardy Reed LLC’s holdings in PepsiCo were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEP. International Assets Investment Management LLC increased its holdings in PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares during the last quarter. Swedbank AB increased its stake in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. raised its holdings in PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 5.6% in 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 during the period. Finally, Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on PEP. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada cut their price objective 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. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Down 0.5 %

NASDAQ:PEP opened at $162.16 on Wednesday. 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 cap of $222.48 billion, a P/E ratio of 23.92, a P/E/G ratio of 3.04 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The firm has a 50-day simple moving average of $168.43 and a two-hundred day simple moving average of $170.66.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 EPS. Analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

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.