Pictet North America Advisors SA Sells 300 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pictet North America Advisors SA cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,600 shares of the company’s stock after selling 300 shares during the period. Pictet North America Advisors SA’s holdings in PepsiCo were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Sound Income Strategies LLC grew its stake in PepsiCo by 6.2% during the first quarter. Sound Income Strategies LLC now owns 5,429 shares of the company’s stock valued at $950,000 after acquiring an additional 315 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of PepsiCo by 83.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 10,973 shares of the company’s stock worth $1,920,000 after buying an additional 4,992 shares in the last quarter. Eagle Wealth Strategies LLC bought a new stake in PepsiCo during the first quarter valued at $474,000. Elevated Capital Advisors LLC grew its position in PepsiCo by 7.9% during the first quarter. Elevated Capital Advisors LLC now owns 14,421 shares of the company’s stock worth $2,524,000 after buying an additional 1,062 shares in the last quarter. Finally, Brookstone Capital Management increased its stake in PepsiCo by 12.3% in the 1st quarter. Brookstone Capital Management now owns 34,648 shares of the company’s stock worth $6,064,000 after acquiring an additional 3,794 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Jefferies Financial Group decreased their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company cut their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

PEP stock opened at $174.37 on Wednesday. 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 firm’s 50-day moving average price is $173.90 and its two-hundred day moving average price is $172.23. The stock has a market capitalization of $239.23 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.26 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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. The business had revenue of $23.32 billion during 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% on a year-over-year basis. During the same quarter last year, the business posted $2.25 EPS. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, September 6th. PepsiCo’s payout ratio is 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.