PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,867 shares of the company’s stock after selling 401 shares during the quarter. PepsiCo comprises 2.3% of Sky Investment Group LLC’s investment portfolio, making the stock its 6th biggest position. Sky Investment Group LLC’s holdings in PepsiCo were worth $12,561,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PEP. Flossbach Von Storch AG grew its holdings in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the period. Swedbank AB boosted its holdings in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. grew its stake in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the period. Van ECK Associates Corp increased its holdings in shares of PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after buying an additional 1,179,922 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of PepsiCo by 7.2% during the 2nd 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 period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ:PEP traded down $1.10 during trading on Tuesday, hitting $173.91. The company’s stock had a trading volume of 524,388 shares, compared to its average volume of 5,472,973. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The business has a 50 day moving average price of $173.86 and a two-hundred day moving average price of $172.19. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market capitalization of $239.09 billion, a PE ratio of 25.24, a P/E/G ratio of 3.28 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm 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%. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.12%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America cut their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $183.92.

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.