HBW Advisory Services LLC Sells 2,648 Shares of PepsiCo, Inc. (NASDAQ:PEP)

HBW Advisory Services LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.5% in the 3rd quarter, Holdings Channel reports. The fund owned 22,656 shares of the company’s stock after selling 2,648 shares during the period. HBW Advisory Services LLC’s holdings in PepsiCo were worth $3,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Exencial Wealth Advisors LLC grew its holdings in PepsiCo by 3.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 26,562 shares of the company’s stock worth $4,511,000 after acquiring an additional 892 shares during the last quarter. Envestnet Asset Management Inc. raised its position in PepsiCo by 9.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,863,617 shares of the company’s stock worth $486,357,000 after purchasing an additional 237,669 shares during the last quarter. Morningstar Investment Services LLC lifted its holdings in PepsiCo by 168.1% during the 4th quarter. Morningstar Investment Services LLC now owns 10,135 shares of the company’s stock worth $1,717,000 after buying an additional 6,354 shares during the period. CenterBook Partners LP grew its position in shares of PepsiCo by 29.2% in the 4th quarter. CenterBook Partners LP now owns 10,771 shares of the company’s stock valued at $1,829,000 after buying an additional 2,434 shares during the last quarter. Finally, NCM Capital Management LLC increased its stake in shares of PepsiCo by 10.2% in the fourth quarter. NCM Capital Management LLC now owns 5,122 shares of the company’s stock valued at $870,000 after buying an additional 475 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEP. TD Cowen reduced their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Barclays decreased their price objective on shares of PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday. Finally, Jefferies Financial Group cut 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. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $185.29.

PepsiCo Stock Down 0.5 %

PEP stock traded down $0.88 during midday trading on Friday, reaching $167.65. 2,314,729 shares of the company’s stock traded hands, compared to its average volume of 5,481,979. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company has a market cap of $230.28 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 2.93 and a beta of 0.53. The firm’s fifty day moving average price is $173.90 and its 200-day moving average price is $172.13. 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 (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Friday, September 6th. 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.