Ironwood Investment Counsel LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Ironwood Investment Counsel LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.8% in the third quarter, HoldingsChannel reports. The fund owned 43,296 shares of the company’s stock after selling 1,726 shares during the quarter. PepsiCo makes up about 1.2% of Ironwood Investment Counsel LLC’s portfolio, making the stock its 19th largest holding. Ironwood Investment Counsel LLC’s holdings in PepsiCo were worth $7,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

PepsiCo Stock Up 0.4 %

PEP stock opened at $163.45 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company’s 50 day simple moving average is $167.79 and its 200-day simple moving average is $170.43. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The firm has a market capitalization of $224.25 billion, a PE ratio of 24.11, a P/E/G ratio of 3.03 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $23.86 billion. During the same quarter last year, the business posted $2.25 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.32%. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEP. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $183.92.

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.