PepsiCo, Inc. (NASDAQ:PEP) is Searle & CO.’s 10th Largest Position

Searle & CO. cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,068 shares of the company’s stock after selling 487 shares during the period. PepsiCo makes up 1.8% of Searle & CO.’s holdings, making the stock its 10th largest position. Searle & CO.’s holdings in PepsiCo were worth $7,324,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Sound Income Strategies LLC grew its stake in shares of PepsiCo by 6.2% in the 1st quarter. Sound Income Strategies LLC now owns 5,429 shares of the company’s stock valued at $950,000 after buying an additional 315 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of PepsiCo by 83.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 10,973 shares of the company’s stock worth $1,920,000 after purchasing an additional 4,992 shares in the last quarter. Eagle Wealth Strategies LLC acquired a new position in PepsiCo in the first quarter valued at $474,000. Elevated Capital Advisors LLC increased its stake in PepsiCo by 7.9% in the 1st quarter. Elevated Capital Advisors LLC now owns 14,421 shares of the company’s stock valued at $2,524,000 after buying an additional 1,062 shares during the period. Finally, Brookstone Capital Management grew its holdings in PepsiCo by 12.3% during the first 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 period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Jefferies Financial Group cut their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada dropped 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 note on Friday, October 4th. Finally, Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

PepsiCo stock traded down $1.40 on Wednesday, hitting $172.97. The company’s stock had a trading volume of 869,756 shares, compared to its average volume of 5,466,450. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The firm has a market cap of $237.31 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 3.26 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average price of $173.90 and a 200-day moving average price of $172.23.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. 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 (DPR) is currently 79.94%.

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.