Savoir Faire Capital Management L.P. Has $2.98 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Savoir Faire Capital Management L.P. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 56.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,501 shares of the company's stock after selling 22,856 shares during the period. Savoir Faire Capital Management L.P.'s holdings in PepsiCo were worth $2,976,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in PepsiCo by 9.2% in 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 in the last quarter. M&G Plc boosted its stake 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 acquiring an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc increased its holdings in shares of PepsiCo by 3.5% during 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 last quarter. Fiduciary Family Office LLC lifted its holdings in PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company's stock worth $1,164,000 after purchasing an additional 3,727 shares during the last quarter. Finally, Empower Advisory Group LLC boosted its position in PepsiCo by 4.6% during the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company's stock worth $64,432,000 after purchasing an additional 16,523 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PEP shares. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Hsbc Global Res raised PepsiCo to a "hold" rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $183.92.

PepsiCo Price Performance

Shares of PEP stock traded down $1.61 during trading hours 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 debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market capitalization of $215.02 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.96 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 firm's fifty day moving average is $170.42 and its 200 day moving average is $171.38.

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 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 company had revenue of $23.32 billion during the quarter, compared to analysts' expectations of $23.86 billion. During the same period last year, the business earned $2.25 earnings per share. The business's revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.46%. PepsiCo's dividend payout ratio (DPR) is currently 79.94%.

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.