PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Caprock Group LLC

Caprock Group LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,244 shares of the company's stock after selling 4,739 shares during the quarter. Caprock Group LLC's holdings in PepsiCo were worth $4,973,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pathstone Holdings LLC grew its stake in PepsiCo by 5.7% in the third quarter. Pathstone Holdings LLC now owns 242,480 shares of the company's stock worth $41,234,000 after purchasing an additional 13,083 shares in the last quarter. Lindenwold Advisors INC lifted its holdings in shares of PepsiCo by 0.7% in the 3rd quarter. Lindenwold Advisors INC now owns 12,687 shares of the company's stock worth $2,157,000 after buying an additional 86 shares during the period. Aviance Capital Partners LLC grew its position in shares of PepsiCo by 5.6% during the 3rd quarter. Aviance Capital Partners LLC now owns 16,545 shares of the company's stock worth $2,813,000 after buying an additional 876 shares in the last quarter. Windle Wealth LLC raised its holdings in shares of PepsiCo by 4.5% in the third quarter. Windle Wealth LLC now owns 38,458 shares of the company's stock valued at $6,540,000 after acquiring an additional 1,639 shares in the last quarter. Finally, New England Asset Management Inc. lifted its stake in PepsiCo by 3.1% in the third quarter. New England Asset Management Inc. now owns 11,387 shares of the company's stock worth $1,936,000 after acquiring an additional 345 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on PEP. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a report on Friday, October 4th. Redburn Atlantic raised shares of PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. StockNews.com raised PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Finally, Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $183.92.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $1.61 during midday trading on Tuesday, reaching $156.72. The company had a trading volume of 7,195,365 shares, compared to its average volume of 5,479,357. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The business's 50-day simple moving average is $170.00 and its 200 day simple moving average is $171.24. The stock has a market cap of $215.02 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS 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 firm's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $2.25 earnings per share. On average, analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.46%. PepsiCo's dividend payout ratio is presently 79.94%.

PepsiCo Company Profile

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.