Icon Wealth Advisors LLC Has $290,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Icon Wealth Advisors LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 94.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,703 shares of the company’s stock after selling 26,715 shares during the quarter. Icon Wealth Advisors LLC’s holdings in PepsiCo were worth $290,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Global Wealth Strategies & Associates raised its stake in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC lifted its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo during the 2nd quarter worth approximately $34,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEP. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Morgan Stanley downgraded 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. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

Shares of PEP stock opened at $162.00 on Friday. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The company has a market capitalization of $222.26 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.99 and a beta of 0.53. The company has a 50-day simple moving average of $169.01 and a 200 day simple moving average of $170.94. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

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.