PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,672 shares of the company’s stock after selling 192 shares during the period. Tradition Wealth Management LLC’s holdings in PepsiCo were worth $454,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares during the period. Swedbank AB increased its stake in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $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 second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in PepsiCo by 5.6% during the third 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 in the last quarter. Finally, Legal & General Group Plc grew its holdings in PepsiCo by 7.2% in the second 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 last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PEP opened at $163.45 on Monday. 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 stock has a market capitalization of $224.25 billion, a PE ratio of 24.11, a P/E/G ratio of 3.05 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The company’s 50 day simple moving average is $167.79 and its 200 day simple moving average is $170.30.

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

PepsiCo Announces Dividend

The firm also recently declared 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 3.32%. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

Several research firms recently commented on PEP. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.

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.