Regent Peak Wealth Advisors LLC Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Regent Peak Wealth Advisors LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 11.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,072 shares of the company’s stock after selling 1,879 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in PepsiCo were worth $2,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Meixler Investment Management Ltd. increased its position in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC increased its stake in PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares in the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Bank of Stockton raised its stake in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after acquiring an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC raised its stake in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.0 %

Shares of NASDAQ:PEP traded down $1.74 during mid-day trading on Wednesday, reaching $174.16. 1,484,309 shares of the company were exchanged, compared to its average volume of 5,486,931. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The firm’s 50-day simple moving average is $173.63 and its 200 day simple moving average is $172.08. The firm has a market cap of $239.43 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 3.11 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the company earned $2.25 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were paid 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 yield of 3.11%. PepsiCo’s dividend payout ratio is currently 78.66%.

Wall Street Analyst Weigh In

Several analysts have commented on PEP shares. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus 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.