Ironwood Financial llc Sells 84 Shares of PepsiCo, Inc. (NASDAQ:PEP)

by · The Markets Daily

Ironwood Financial llc lowered its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 4.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,788 shares of the company’s stock after selling 84 shares during the period. Ironwood Financial llc’s holdings in PepsiCo were worth $304,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Advisors Ltd. LLC raised its position in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the last quarter. Norden Group LLC lifted its position in shares of PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after purchasing an additional 174,171 shares in the last quarter. Meyer Handelman Co. boosted its holdings in PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after purchasing an additional 9,465 shares during the last quarter. Global Assets Advisory LLC bought a new position in PepsiCo in the first quarter valued at $28,366,000. Finally, M&G Plc increased its stake in PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after buying an additional 14,724 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays decreased their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $183.92.

View Our Latest Stock Analysis on PepsiCo

PepsiCo Stock Performance

PEP stock traded up $0.27 during mid-day trading on Thursday, hitting $174.75. 93,585 shares of the company were exchanged, compared to its average volume of 5,474,608. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The business has a 50 day simple moving average of $173.68 and a 200-day simple moving average of $172.10. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $240.24 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Free Report) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

About PepsiCo

(Free Report)

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.

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