Partnership Wealth Management LLC Has $2.03 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Partnership Wealth Management LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,927 shares of the company’s stock after selling 156 shares during the period. PepsiCo accounts for 1.4% of Partnership Wealth Management LLC’s holdings, making the stock its 13th largest position. Partnership Wealth Management LLC’s holdings in PepsiCo were worth $2,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valued Wealth Advisors LLC grew its position in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo in the second quarter worth $30,000. Finally, Fortis Group Advisors LLC grew its stake in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 1.9 %

Shares of NASDAQ:PEP opened at $170.42 on Wednesday. The business has a fifty day simple moving average of $173.63 and a 200 day simple moving average of $172.06. PepsiCo, Inc. has a 12-month low of $157.43 and a 12-month high of $183.41. The firm has a market cap of $234.29 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.07 and a beta of 0.53. 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 posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 earnings per share. Analysts predict that PepsiCo, Inc. will post 8.13 earnings per share for the current year.

PepsiCo Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen lowered their price objective 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. Wells Fargo & Company reduced their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group dropped their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $182.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $185.29.

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.