Captrust Financial Advisors Sells 27,259 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Captrust Financial Advisors reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 536,182 shares of the company’s stock after selling 27,259 shares during the quarter. Captrust Financial Advisors’ holdings in PepsiCo were worth $91,178,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the third quarter valued at $28,000. POM Investment Strategies LLC lifted its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo during the second quarter valued at $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo during the second quarter valued at $34,000. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PEP shares. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada lowered their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Barclays lowered their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of PEP opened at $162.72 on Friday. The firm has a market capitalization of $223.25 billion, a PE ratio of 24.00, a PEG ratio of 3.03 and a beta of 0.53. The company’s 50-day moving average is $167.95 and its 200-day moving average is $170.55. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. PepsiCo’s payout ratio is 79.94%.

About PepsiCo

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.