Agate Pass Investment Management LLC Sells 103 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Agate Pass Investment Management LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,893 shares of the company’s stock after selling 103 shares during the quarter. PepsiCo accounts for about 1.3% of Agate Pass Investment Management LLC’s holdings, making the stock its 23rd largest position. Agate Pass Investment Management LLC’s holdings in PepsiCo were worth $2,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Flossbach Von Storch AG increased its stake in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. raised its stake in PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the period. Van ECK Associates Corp lifted its holdings in PepsiCo by 429.3% in the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in PepsiCo during the 1st quarter valued at approximately $166,243,000. Finally, Legal & General Group Plc raised its position in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $172.99 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $237.34 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $157.43 and a 12 month high of $183.41. The firm’s 50-day moving average is $173.62 and its 200 day moving average is $172.06.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

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 3.13%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PEP shares. Jefferies Financial Group cut their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Barclays reduced their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $184.07.

About PepsiCo

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.