PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Belmont Capital LLC

Belmont Capital LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 72.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,193 shares of the company's stock after selling 5,770 shares during the quarter. Belmont Capital LLC's holdings in PepsiCo were worth $373,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions 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 acquired a new position in PepsiCo during the third quarter worth approximately $28,000. POM Investment Strategies LLC increased its position in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley lowered PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. 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 report on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Royal Bank of Canada dropped their price objective on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $180.00 to $179.00 and set a "hold" rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $1.61 on Tuesday, hitting $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. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The business has a 50 day moving average of $170.00 and a 200 day moving average of $171.24. The company has a market cap of $215.02 billion, a PE ratio of 23.12, a PEG ratio of 2.96 and a beta of 0.53.

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

PepsiCo Dividend Announcement

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 given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.46%. PepsiCo's dividend payout ratio is currently 79.94%.

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.