Bank Pictet & Cie Europe AG Cuts Holdings in PepsiCo, Inc. $PEP

Bank Pictet & Cie Europe AG decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 51.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 67,101 shares of the company’s stock after selling 72,532 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in PepsiCo were worth $9,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PEP. Edmp Inc. raised its position in shares of PepsiCo by 16.3% in the 3rd quarter. Edmp Inc. now owns 14,170 shares of the company’s stock worth $1,990,000 after acquiring an additional 1,987 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of PepsiCo by 42.2% in the 3rd quarter. True Wealth Design LLC now owns 1,921 shares of the company’s stock valued at $270,000 after buying an additional 570 shares in the last quarter. RB Capital Management LLC raised its stake in shares of PepsiCo by 0.6% during the 3rd quarter. RB Capital Management LLC now owns 32,059 shares of the company’s stock worth $4,502,000 after acquiring an additional 199 shares in the last quarter. Financial Consulate Inc. purchased a new position in PepsiCo in the third quarter worth $492,000. Finally, Salomon & Ludwin LLC boosted its position in shares of PepsiCo by 15.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 4,040 shares of the company’s stock worth $574,000 after purchasing an additional 530 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.4%

Shares of PEP stock opened at $143.52 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The company’s 50-day moving average price is $146.56 and its 200-day moving average price is $143.68. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The stock has a market cap of $196.24 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 4.95 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. PepsiCo’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 EPS. As a group, equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. PepsiCo’s dividend payout ratio is presently 108.17%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Evercore ISI upped their price target on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. The Goldman Sachs Group raised their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research note on Tuesday, October 21st. Finally, Bank of America upped their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.75.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.