Bartlett & CO. Wealth Management LLC Has $79.74 Million Holdings in PepsiCo, Inc. $PEP

Bartlett & CO. Wealth Management LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 567,778 shares of the company’s stock after selling 34,626 shares during the period. PepsiCo makes up approximately 1.1% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 26th largest holding. Bartlett & CO. Wealth Management LLC’s holdings in PepsiCo were worth $79,739,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after acquiring an additional 6,574 shares in the last quarter. Summit Financial LLC raised its stake in shares of PepsiCo by 8.2% in the 1st quarter. Summit Financial LLC now owns 28,261 shares of the company’s stock valued at $4,238,000 after purchasing an additional 2,151 shares during the period. CW Advisors LLC lifted its holdings in shares of PepsiCo by 51.0% in the first quarter. CW Advisors LLC now owns 37,931 shares of the company’s stock valued at $5,663,000 after purchasing an additional 12,805 shares in the last quarter. Compound Planning Inc. boosted its position in shares of PepsiCo by 31.3% during the first quarter. Compound Planning Inc. now owns 7,744 shares of the company’s stock worth $1,161,000 after buying an additional 1,848 shares during the period. Finally, Kelly Lawrence W & Associates Inc. CA raised its position in PepsiCo by 0.4% in the 1st quarter. Kelly Lawrence W & Associates Inc. CA now owns 61,290 shares of the company’s stock valued at $9,190,000 after buying an additional 250 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of several research reports. Rothschild & Co Redburn raised their price target on shares of PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research note on Monday, December 15th. HSBC lifted their price target on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research note on Friday, October 10th. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $151.00 to $164.00 in a report on Wednesday, December 10th. Finally, Bank of America raised their target price on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $158.75.

PepsiCo Stock Down 0.8%

Shares of PEP opened at $148.16 on Friday. The firm’s 50-day simple moving average is $148.00 and its 200 day simple moving average is $142.86. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The firm has a market cap of $202.59 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 5.15 and a beta of 0.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 57.58% and a net margin of 7.82%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 earnings per share. On average, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

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.