Ingalls & Snyder LLC Sells 4,595 Shares of PepsiCo, Inc. $PEP

Ingalls & Snyder LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,522 shares of the company’s stock after selling 4,595 shares during the period. Ingalls & Snyder LLC’s holdings in PepsiCo were worth $8,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PEP. Evolution Wealth Management Inc. bought a new stake in PepsiCo during the 2nd quarter valued at $27,000. JCIC Asset Management Inc. bought a new stake in shares of PepsiCo in the third quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC lifted its stake in PepsiCo by 107.1% in the second 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. Halbert Hargrove Global Advisors LLC grew its holdings in PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at about $37,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 2.4%

NASDAQ:PEP opened at $161.92 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company has a market cap of $221.29 billion, a PE ratio of 26.99, a P/E/G ratio of 3.16 and a beta of 0.40. The company’s 50 day moving average is $150.36 and its two-hundred day moving average is $147.51.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, February 2nd. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The business had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.96 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo announced that its board has authorized a share buyback program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.5%. PepsiCo’s dividend payout ratio is currently 94.83%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. HSBC increased their price objective on shares of PepsiCo from $152.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $156.00 target price on shares of PepsiCo in a research report on Wednesday, February 4th. Barclays boosted their price target on PepsiCo from $148.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. Finally, Loop Capital set a $164.00 target price on shares of PepsiCo in a report on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $167.83.

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.