Bank Pictet & Cie Europe AG Sells 72,532 Shares of PepsiCo, Inc. $PEP

Bank Pictet & Cie Europe AG decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 51.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,101 shares of the company’s stock after selling 72,532 shares during the period. Bank Pictet & Cie Europe AG’s holdings in PepsiCo were worth $9,424,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JSF Financial LLC lifted its position in shares of PepsiCo by 3.8% in the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after purchasing an additional 69 shares during the period. Binnacle Investments Inc raised its stake in PepsiCo by 33.2% during the second quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after buying an additional 71 shares during the last quarter. Dogwood Wealth Management LLC raised its position in shares of PepsiCo by 15.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after purchasing an additional 72 shares during the last quarter. Weaver Consulting Group lifted its stake in shares of PepsiCo by 2.9% in the second quarter. Weaver Consulting Group now owns 2,581 shares of the company’s stock worth $341,000 after buying an additional 72 shares in the last quarter. Finally, Davidson Trust Co. boosted its stake in PepsiCo by 0.5% during the 3rd quarter. Davidson Trust Co. now owns 13,568 shares of the company’s stock valued at $1,905,000 after purchasing an additional 72 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP opened at $143.52 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The business has a fifty day moving average of $146.56 and a 200 day moving average of $143.68. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The stock has a market cap of $196.24 billion, a P/E ratio of 27.29, a PEG ratio of 4.95 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during 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%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be paid a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEP. Loop Capital set a $164.00 price target on shares of PepsiCo in a report on Thursday, October 23rd. Royal Bank Of Canada reduced their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. BNP Paribas Exane lowered their target price on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Bank of America raised their price objective on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $158.75.

About PepsiCo

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.