PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 74,043 shares of the company’s stock after selling 1,828 shares during the period. PepsiCo makes up 1.1% of Howe & Rusling Inc.’s investment portfolio, making the stock its 26th largest holding. Howe & Rusling Inc.’s holdings in PepsiCo were worth $12,591,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilton Capital Management LLC boosted its position in shares of PepsiCo by 1.4% during the 3rd quarter. Hilton Capital Management LLC now owns 61,229 shares of the company’s stock worth $10,412,000 after purchasing an additional 816 shares in the last quarter. NS Partners Ltd boosted its holdings in PepsiCo by 1.0% during the third quarter. NS Partners Ltd now owns 141,781 shares of the company’s stock worth $24,110,000 after buying an additional 1,366 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in PepsiCo in the third quarter valued at about $4,838,000. Avior Wealth Management LLC lifted its position in shares of PepsiCo by 4.0% during the 3rd quarter. Avior Wealth Management LLC now owns 18,313 shares of the company’s stock valued at $3,114,000 after acquiring an additional 703 shares during the period. Finally, Counterweight Ventures LLC boosted its stake in shares of PepsiCo by 50.6% during the 3rd quarter. Counterweight Ventures LLC now owns 2,084 shares of the company’s stock worth $354,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PEP shares. TD Cowen cut 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. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Royal Bank of Canada dropped 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. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One investment 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, PepsiCo presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Down 1.0 %

Shares of PepsiCo stock opened at $156.72 on Wednesday. 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, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The business has a 50-day moving average of $170.00 and a 200-day moving average of $171.24. The company has a market capitalization of $215.02 billion, a PE ratio of 23.12, a P/E/G ratio of 2.96 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for 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%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.25 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.46%. PepsiCo’s payout ratio is 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.