Marco Investment Management LLC Sells 66 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Marco Investment Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,347 shares of the company’s stock after selling 66 shares during the period. Marco Investment Management LLC’s holdings in PepsiCo were worth $569,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PEP. Waterford Advisors LLC acquired a new stake in shares of PepsiCo during the first quarter valued at about $207,000. Silvercrest Asset Management Group LLC raised its holdings in PepsiCo by 0.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 298,938 shares of the company’s stock valued at $52,317,000 after buying an additional 1,927 shares during the last quarter. Kinloch Capital LLC grew its holdings in PepsiCo by 7.4% during the 1st quarter. Kinloch Capital LLC now owns 20,332 shares of the company’s stock worth $3,558,000 after acquiring an additional 1,402 shares during the last quarter. Waverly Advisors LLC increased its position in PepsiCo by 70.4% in the 1st quarter. Waverly Advisors LLC now owns 42,543 shares of the company’s stock valued at $7,445,000 after acquiring an additional 17,573 shares during the period. Finally, Blackstone Inc. bought a new position in shares of PepsiCo during the first quarter valued at $63,004,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEP. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. 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 report on Friday, September 20th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Up 1.0 %

PEP opened at $162.00 on Friday. The company has a fifty day moving average price of $169.01 and a two-hundred day moving average price of $170.94. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The company has a market cap of $222.26 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its quarterly 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 return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the business earned $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

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.