Pin Oak Investment Advisors Inc. Sells 81 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pin Oak Investment Advisors Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,119 shares of the company’s stock after selling 81 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in PepsiCo were worth $190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Empowered Funds LLC grew its stake in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the period. Meridian Wealth Management LLC bought a new position in PepsiCo during the third quarter worth about $9,589,000. M&G Plc grew its position in shares of PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after buying an additional 14,724 shares during the period. Pinnacle Financial Partners Inc raised its position in shares of PepsiCo by 3.5% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after acquiring an additional 4,547 shares during the period. Finally, Fiduciary Family Office LLC boosted its stake in PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after acquiring an additional 3,727 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $162.72 on Thursday. The firm has a market cap of $223.25 billion, a PE ratio of 24.00, a P/E/G ratio of 3.04 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The company’s fifty day simple moving average is $168.18 and its 200-day simple moving average is $170.60. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

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

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued 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 presently 79.94%.

Analyst Ratings Changes

Several equities research analysts have commented on PEP shares. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average 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.