Canopy Partners LLC Has $1.10 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Canopy Partners LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,462 shares of the company’s stock after selling 146 shares during the quarter. Canopy Partners LLC’s holdings in PepsiCo were worth $1,099,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PEP. Empowered Funds LLC increased its holdings in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the last quarter. M&G Plc increased its holdings in PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the last quarter. Pinnacle Financial Partners Inc increased its holdings in PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after purchasing an additional 4,547 shares during the last quarter. Fiduciary Family Office LLC increased its holdings in shares of PepsiCo by 119.6% in the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after acquiring an additional 3,727 shares in the last quarter. Finally, Empower Advisory Group LLC increased its holdings in shares of PepsiCo by 4.6% in the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock worth $64,432,000 after acquiring an additional 16,523 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PEP shares. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $162.00 on Friday. The stock has a 50 day moving average price of $169.01 and a 200 day moving average price of $170.98. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. 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 stock has a market capitalization of $222.26 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. 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.