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

Thrive Wealth Management LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 21.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,425 shares of the company’s stock after selling 923 shares during the period. Thrive Wealth Management LLC’s holdings in PepsiCo were worth $582,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PEP. Chemung Canal Trust Co. raised its stake in PepsiCo by 39.2% in the third quarter. Chemung Canal Trust Co. now owns 64,697 shares of the company’s stock valued at $11,002,000 after buying an additional 18,224 shares during the last quarter. Rockland Trust Co. increased its holdings in shares of PepsiCo by 16.5% during the third quarter. Rockland Trust Co. now owns 266,944 shares of the company’s stock valued at $45,394,000 after acquiring an additional 37,717 shares in the last quarter. Duncan Williams Asset Management LLC raised its position in shares of PepsiCo by 25.8% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 4,922 shares of the company’s stock valued at $837,000 after purchasing an additional 1,010 shares during the last quarter. Abacus Wealth Partners LLC grew its position in PepsiCo by 46.6% during the 3rd quarter. Abacus Wealth Partners LLC now owns 2,276 shares of the company’s stock worth $387,000 after purchasing an additional 723 shares during the last quarter. Finally, Apella Capital LLC raised its holdings in shares of PepsiCo by 2.4% in the third quarter. Apella Capital LLC now owns 9,884 shares of the company’s stock worth $1,676,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $0.56 during trading on Friday, reaching $167.97. 4,390,162 shares of the company’s stock traded hands, compared to its average volume of 5,492,783. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The company has a 50-day simple moving average of $173.80 and a 200-day simple moving average of $172.10. The firm has a market cap of $230.72 billion, a PE ratio of 24.38, a P/E/G ratio of 2.93 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $2.09 earnings per share. As a group, analysts predict that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.23%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEP. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Barclays reduced their price objective on PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, TD Cowen cut their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $185.29.

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.