Edgestream Partners L.P. Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Edgestream Partners L.P. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 43.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,568 shares of the company’s stock after selling 5,809 shares during the quarter. Edgestream Partners L.P.’s holdings in PepsiCo were worth $1,287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. L.M. Kohn & Company raised its stake in shares of PepsiCo by 1.7% in the 3rd quarter. L.M. Kohn & Company now owns 17,262 shares of the company’s stock valued at $2,935,000 after purchasing an additional 283 shares in the last quarter. Fred Alger Management LLC raised its stake in PepsiCo by 1.2% during the third quarter. Fred Alger Management LLC now owns 50,431 shares of the company’s stock valued at $8,576,000 after buying an additional 589 shares in the last quarter. William Allan Corp lifted its holdings in PepsiCo by 4.4% during the 3rd quarter. William Allan Corp now owns 13,454 shares of the company’s stock worth $2,288,000 after buying an additional 563 shares during the last quarter. Peterson Wealth Management grew its position in shares of PepsiCo by 0.4% in the 3rd quarter. Peterson Wealth Management now owns 34,691 shares of the company’s stock worth $5,899,000 after acquiring an additional 153 shares in the last quarter. Finally, Vinva Investment Management Ltd raised its position in shares of PepsiCo by 4.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 76,650 shares of the company’s stock valued at $13,030,000 after acquiring an additional 3,519 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent research reports. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. 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 research report on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Down 0.8 %

PEP stock opened at $161.70 on Wednesday. The firm’s 50-day moving average is $167.45 and its two-hundred day moving average is $170.01. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $221.85 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 3.04 and a beta of 0.52. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41.

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

PepsiCo Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. 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.