Ingalls & Snyder LLC Lowers Holdings in PepsiCo, Inc. $PEP

Ingalls & Snyder LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 62,522 shares of the company’s stock after selling 4,595 shares during the period. Ingalls & Snyder LLC’s holdings in PepsiCo were worth $8,781,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evolution Wealth Management Inc. purchased a new stake in shares of PepsiCo in the second quarter valued at approximately $27,000. JCIC Asset Management Inc. purchased a new stake in PepsiCo during the 3rd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC boosted its stake in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the last quarter. Halbert Hargrove Global Advisors LLC raised its stake in PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after purchasing an additional 207 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $37,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 2.4%

Shares of NASDAQ:PEP opened at $161.92 on Wednesday. The firm has a 50 day simple moving average of $150.36 and a 200-day simple moving average of $147.51. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $221.29 billion, a PE ratio of 26.99, a P/E/G ratio of 3.16 and a beta of 0.40.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The firm had revenue of $29.34 billion during the quarter, compared to analysts’ expectations of $28.96 billion. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. PepsiCo’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 3rd that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to buy up to 4.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, March 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.5%. PepsiCo’s dividend payout ratio (DPR) is 94.83%.

Wall Street Analyst Weigh In

PEP has been the topic of several research analyst reports. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a report on Tuesday, October 21st. UBS Group reissued a “buy” rating and issued a $190.00 price objective on shares of PepsiCo in a research note on Wednesday, February 4th. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $156.00 price target on shares of PepsiCo in a research report on Wednesday, February 4th. Finally, Jefferies Financial Group boosted their price target on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $167.83.

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.