Bleakley Financial Group LLC Sells 1,079 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bleakley Financial Group LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,116 shares of the company’s stock after selling 1,079 shares during the quarter. Bleakley Financial Group LLC’s holdings in PepsiCo were worth $6,652,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEP. Meixler Investment Management Ltd. grew its stake in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC lifted its stake in PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton lifted its stake in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its holdings in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Barclays dropped their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Up 0.1 %

Shares of PepsiCo stock opened at $174.67 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The company has a 50-day moving average of $173.73 and a 200 day moving average of $172.12. The firm has a market cap of $240.13 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $2.25 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s payout ratio is 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.