Empire Financial Management Company LLC Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Empire Financial Management Company LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 34.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,295 shares of the company's stock after selling 5,855 shares during the quarter. Empire Financial Management Company LLC's holdings in PepsiCo were worth $1,921,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PEP. Meixler Investment Management Ltd. grew its position in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company's stock worth $228,000 after purchasing an additional 58 shares in the last quarter. Opes Wealth Management LLC grew its position in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company's stock worth $453,000 after purchasing an additional 59 shares in the last quarter. Global Wealth Strategies & Associates grew its position in shares of 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 in the last quarter. Bank of Stockton grew its position in shares of PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company's stock worth $448,000 after purchasing an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC grew its position in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company's stock worth $1,481,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Trading Down 1.5 %

Shares of PEP stock traded down $2.41 on Wednesday, reaching $157.43. 3,208,257 shares of the company's stock were exchanged, compared to its average volume of 5,488,980. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. 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 stock has a market capitalization of $215.99 billion, a PE ratio of 23.54, a P/E/G ratio of 2.94 and a beta of 0.52. The company's fifty day simple moving average is $166.62 and its 200 day simple moving average is $169.42.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the company earned $2.25 EPS. PepsiCo's quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts forecast 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. Shareholders of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo's dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an "overweight" rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. TD Cowen cut PepsiCo from a "buy" rating to a "hold" rating and cut their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Morgan Stanley cut PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target for the company. in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $183.92.

PepsiCo 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.