Exchange Traded Concepts LLC Lowers Stock Position in PepsiCo, Inc. $PEP

Exchange Traded Concepts LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,441 shares of the company’s stock after selling 16,745 shares during the quarter. Exchange Traded Concepts LLC’s holdings in PepsiCo were worth $40,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at about $25,000. Evolution Wealth Management Inc. acquired a new stake in PepsiCo during the 2nd quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo in the 2nd quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of 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 purchasing an additional 121 shares during the last quarter. Finally, Frazier Financial Advisors LLC lifted its holdings in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP stock opened at $148.16 on Monday. The firm has a 50 day moving average of $148.00 and a 200-day moving average of $143.02. The company has a market cap of $202.59 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 5.11 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 firm had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $2.31 EPS. As a group, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo’s payout ratio is currently 108.17%.

Wall Street Analyst Weigh In

PEP has been the subject of a number of analyst reports. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research report on Tuesday, October 21st. Royal Bank Of Canada cut their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a report on Monday, September 15th. Citigroup raised their price objective on shares of PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America boosted their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, BNP Paribas Exane reduced their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $158.75.

PepsiCo Company 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.