Naviter Wealth LLC Has $2.61 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Naviter Wealth LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,353 shares of the company’s stock after selling 1,059 shares during the quarter. Naviter Wealth LLC’s holdings in PepsiCo were worth $2,611,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Valued Wealth Advisors LLC raised its stake in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its holdings in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the second quarter worth $34,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PEP. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

PepsiCo stock traded up $0.27 during midday trading on Thursday, reaching $174.75. The company’s stock had a trading volume of 93,585 shares, compared to its average volume of 5,474,608. The stock has a market cap of $240.24 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average price of $173.68 and a 200-day moving average price of $172.10. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm 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%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 earnings per share. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

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.