Rockingstone Advisors LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Rockingstone Advisors LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,948 shares of the company’s stock after selling 287 shares during the period. Rockingstone Advisors LLC’s holdings in PepsiCo were worth $1,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC grew its stake in PepsiCo by 77.5% in the first 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 raised its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $30,000. Finally, Fortis Group Advisors LLC raised its holdings 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 purchasing an additional 97 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. 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 report on Tuesday, July 9th. TD Cowen lowered their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.29.

PepsiCo Stock Up 1.9 %

PepsiCo stock opened at $170.42 on Wednesday. The firm has a market cap of $234.29 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo, Inc. has a fifty-two week low of $157.43 and a fifty-two week high of $183.41. The firm has a fifty day moving average price of $173.68 and a two-hundred day moving average price of $172.07.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.02. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 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 down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.25 earnings per share. As a group, analysts forecast that PepsiCo, Inc. will post 8.13 earnings per share for the current year.

PepsiCo Dividend Announcement

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