Williams & Novak LLC Sells 400 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Williams & Novak LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,414 shares of the company’s stock after selling 400 shares during the quarter. Williams & Novak LLC’s holdings in PepsiCo were worth $240,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PEP. XML Financial LLC raised its holdings in PepsiCo by 3.9% during the fourth quarter. XML Financial LLC now owns 14,252 shares of the company’s stock worth $2,421,000 after buying an additional 538 shares during the last quarter. Unigestion Holding SA raised its holdings in shares of PepsiCo by 43.0% in the fourth quarter. Unigestion Holding SA now owns 161,310 shares of the company’s stock valued at $27,397,000 after purchasing an additional 48,469 shares during the last quarter. Keyes Stange & Wooten Wealth Management LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $328,000. Vontobel Asset Management Inc. raised its holdings in shares of PepsiCo by 23.6% in the fourth quarter. Vontobel Asset Management Inc. now owns 1,640,057 shares of the company’s stock valued at $289,649,000 after purchasing an additional 313,078 shares during the last quarter. Finally, MGO One Seven LLC raised its holdings in shares of PepsiCo by 46.7% in the fourth quarter. MGO One Seven LLC now owns 25,508 shares of the company’s stock valued at $4,332,000 after purchasing an additional 8,115 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PEP. Barclays lowered their target price on shares of PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company reduced their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, TD Cowen reduced their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $185.29.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $167.21 on Tuesday. The company has a 50-day moving average price of $173.80 and a two-hundred day moving average price of $172.11. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a twelve month low of $157.43 and a twelve month high of $183.41. The firm has a market capitalization of $229.67 billion, a PE ratio of 24.27, a P/E/G ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. PepsiCo’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $2.25 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.13 EPS for the current year.

PepsiCo Announces Dividend

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

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.