Monterey Private Wealth Inc. Has $1.20 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Monterey Private Wealth Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,068 shares of the company’s stock after selling 280 shares during the quarter. Monterey Private Wealth Inc.’s holdings in PepsiCo were worth $1,202,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PEP. Legal & General Group Plc boosted its stake 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 buying an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the period. Dimensional Fund Advisors LP raised its stake in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after buying an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. boosted its position in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG raised its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their target price on shares of PepsiCo from $182.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $185.43.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $168.53 on Friday. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The firm has a market capitalization of $231.49 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.93 and a beta of 0.53. The company’s fifty day moving average price is $173.90 and its 200-day moving average price is $172.13.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.09 earnings per share. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a $1.355 dividend. 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 3.22%. PepsiCo’s payout ratio is 78.66%.

About PepsiCo

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.