PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Citizens Business Bank

Citizens Business Bank cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 20.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,821 shares of the company’s stock after selling 969 shares during the period. Citizens Business Bank’s holdings in PepsiCo were worth $650,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC increased its holdings in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the period. Janus Henderson Group PLC raised its holdings in PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after acquiring an additional 34,633 shares in the last quarter. IHT Wealth Management LLC lifted its stake in PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in PepsiCo during the 3rd quarter worth approximately $9,589,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $527,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PEP. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.2 %

PepsiCo stock opened at $159.84 on Wednesday. The stock’s 50 day moving average price is $166.62 and its 200 day moving average price is $169.42. The company has a market cap of $219.30 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, December 6th. 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.