Beacon Investment Advisory Services Inc. Sells 665 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Beacon Investment Advisory Services Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,286 shares of the company’s stock after selling 665 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in PepsiCo were worth $5,830,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mather Group LLC. raised its position in shares of PepsiCo by 17.3% in the second quarter. Mather Group LLC. now owns 16,517 shares of the company’s stock valued at $2,891,000 after purchasing an additional 2,431 shares during the period. Lynx Investment Advisory acquired a new position in PepsiCo in the 2nd quarter valued at $89,000. Sage Capital Advisors llc raised its holdings in PepsiCo by 0.9% in the 2nd quarter. Sage Capital Advisors llc now owns 39,474 shares of the company’s stock worth $6,510,000 after acquiring an additional 355 shares during the period. Baker Ellis Asset Management LLC boosted its holdings in PepsiCo by 2.0% during the second quarter. Baker Ellis Asset Management LLC now owns 37,128 shares of the company’s stock valued at $6,124,000 after acquiring an additional 745 shares during the period. Finally, Eastover Investment Advisors LLC grew its position in shares of PepsiCo by 1.6% in the second quarter. Eastover Investment Advisors LLC now owns 36,355 shares of the company’s stock valued at $5,947,000 after purchasing an additional 561 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One research 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, the stock has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.4 %

NASDAQ PEP opened at $163.45 on Monday. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock’s 50 day moving average is $167.79 and its two-hundred day moving average is $170.30. The company has a market capitalization of $224.25 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 3.05 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

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 given a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.32%. PepsiCo’s dividend payout ratio (DPR) is presently 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.