City Holding Co. Has $5.43 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

City Holding Co. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 31,940 shares of the company’s stock after selling 845 shares during the quarter. City Holding Co.’s holdings in PepsiCo were worth $5,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates boosted its holdings in 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 boosted its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC raised its stake in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo in the second quarter valued at $30,000. Finally, Fortis Group Advisors LLC increased its holdings in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. Barclays lowered their price objective on shares of PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. DZ Bank downgraded 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. TD Cowen reduced their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $185.29.

PepsiCo Price Performance

PepsiCo stock opened at $170.42 on Wednesday. The company has a market cap of $234.29 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 3.07 and a beta of 0.53. The business’s 50 day simple moving average is $173.68 and its 200 day simple moving average is $172.07. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 12 month low of $157.43 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the business earned $2.25 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that PepsiCo, Inc. will post 8.13 EPS for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.18%. PepsiCo’s dividend payout ratio is currently 78.66%.

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.