PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 77.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 580 shares of the company’s stock after selling 1,969 shares during the period. Eagle Bay Advisors LLC’s holdings in PepsiCo were worth $99,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEP. Flossbach Von Storch AG increased its position in shares of PepsiCo by 67.2% during the first 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 during the period. Swedbank AB increased its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the period. PineStone Asset Management Inc. raised its stake in shares of PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp lifted its position in PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after purchasing an additional 1,179,922 shares during the period. Finally, Legal & General Group Plc grew its position in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEP. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Down 0.8 %

Shares of PEP stock traded down $1.45 on Wednesday, hitting $172.92. The company’s stock had a trading volume of 925,927 shares, compared to its average volume of 5,466,724. The firm’s fifty day moving average price is $173.90 and its 200-day moving average price is $172.23. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock has a market capitalization of $237.24 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.26 and a beta of 0.53.

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

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is 79.94%.

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.