Commonwealth Equity Services LLC Sells 66,646 Shares of PepsiCo, Inc. $PEP

Commonwealth Equity Services LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 753,476 shares of the company’s stock after selling 66,646 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of PepsiCo worth $105,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PEP. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $25,000. Evolution Wealth Management Inc. acquired a new stake in PepsiCo during the 2nd quarter worth about $27,000. Legend Financial Advisors Inc. bought a new position in shares of PepsiCo in the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after purchasing an additional 121 shares during the period. Finally, Halbert Hargrove Global Advisors LLC boosted its position in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after purchasing an additional 207 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $139.92 on Tuesday. The company has a market cap of $191.32 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 4.66 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15. The business has a 50 day moving average price of $146.11 and a 200-day moving average price of $144.03.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. PepsiCo’s revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PEP. The Goldman Sachs Group boosted their price target on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, October 10th. DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research note on Tuesday, October 21st. Rothschild & Co Redburn lifted their price target on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research note on Monday, December 15th. Piper Sandler increased their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and raised their target price for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $158.75.

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.