Veracity Capital LLC Sells 74 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Veracity Capital LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,833 shares of the company’s stock after selling 74 shares during the period. Veracity Capital LLC’s holdings in PepsiCo were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEP. Meixler Investment Management Ltd. increased its stake in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the period. Opes Wealth Management LLC increased its position in shares of 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 raised its holdings in shares of 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 in the last quarter. Bank of Stockton grew its stake in shares of PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC increased its holdings in 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 buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. TD Cowen cut 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. Royal Bank of Canada dropped their target price 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.2 %

Shares of NASDAQ:PEP opened at $175.06 on Friday. The firm has a market cap of $240.18 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 3.28 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month 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 price is $173.78 and its two-hundred day moving average price is $172.14.

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

PepsiCo Dividend Announcement

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