Accordant Advisory Group Inc Reduces Stock Position in PepsiCo, Inc. $PEP

Accordant Advisory Group Inc reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 94.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 541 shares of the company’s stock after selling 10,104 shares during the period. Accordant Advisory Group Inc’s holdings in PepsiCo were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Nova Wealth Management Inc. purchased a new position in PepsiCo during the 1st quarter valued at about $25,000. Evolution Wealth Management Inc. bought a new position in shares of PepsiCo in the second quarter valued at approximately $27,000. Legend Financial Advisors Inc. purchased a new position in PepsiCo during the second quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC increased its holdings in PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the period. Finally, Halbert Hargrove Global Advisors LLC lifted its stake in PepsiCo by 667.7% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after purchasing an additional 207 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. The Goldman Sachs Group upped their price target on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. HSBC upped their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Barclays lifted their price target on PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Royal Bank Of Canada decreased their price objective on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $151.00 to $164.00 in a research report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $158.75.

PepsiCo Stock Down 0.9%

Shares of PEP opened at $142.23 on Monday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The stock has a 50 day simple moving average of $146.37 and a two-hundred day simple moving average of $143.96. The firm has a market cap of $194.48 billion, a P/E ratio of 27.04, a P/E/G ratio of 4.66 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same period in the previous year, the business posted $2.31 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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

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.