Evanson Asset Management LLC Sells 146 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Evanson Asset Management LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,114 shares of the company’s stock after selling 146 shares during the quarter. Evanson Asset Management LLC’s holdings in PepsiCo were worth $360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Flossbach Von Storch AG grew its stake in 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 buying an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. raised its position in PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of PepsiCo by 429.3% in the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of PepsiCo during the 1st quarter valued at about $166,243,000. Finally, Legal & General Group Plc lifted its position in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

PepsiCo stock opened at $167.21 on Tuesday. PepsiCo, Inc. has a fifty-two week low of $157.43 and a fifty-two week high of $183.41. The stock has a market cap of $229.67 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.07 and a beta of 0.53. The stock’s 50 day simple moving average is $173.80 and its two-hundred day simple moving average is $172.11. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

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. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 8.13 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.24%. PepsiCo’s dividend payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEP. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Barclays reduced their price objective on PepsiCo from $187.00 to $186.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen lowered their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Finally, Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $185.29.

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.