McCollum Christoferson Group LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

McCollum Christoferson Group LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,664 shares of the company’s stock after selling 304 shares during the quarter. PepsiCo makes up about 2.7% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 13th largest holding. McCollum Christoferson Group LLC’s holdings in PepsiCo were worth $9,296,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in 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. Massachusetts Financial Services Co. MA raised its stake in PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG increased its holdings in shares of 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 purchasing an additional 1,832,385 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $174.48 on Thursday. The stock’s 50-day simple moving average is $173.68 and its 200-day simple moving average is $172.10. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a market capitalization of $239.87 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 3.11 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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 business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the business earned $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.11%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PEP shares. Wells Fargo & Company reduced their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday, September 20th. Finally, TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $183.92.

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.