Carl P. Sherr & Co. LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Carl P. Sherr & Co. LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 29.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,157 shares of the company’s stock after selling 2,979 shares during the period. Carl P. Sherr & Co. LLC’s holdings in PepsiCo were worth $1,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC increased its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in PepsiCo during the 2nd quarter valued at about $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo during the 2nd quarter valued at about $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.3 %

Shares of NASDAQ:PEP opened at $162.72 on Friday. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The business has a 50 day simple moving average of $167.95 and a two-hundred day simple moving average of $170.55. The firm has a market capitalization of $223.25 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. 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 announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.25 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEP. Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

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.