Tidal Investments LLC Sells 11,435 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Tidal Investments LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,719 shares of the company's stock after selling 11,435 shares during the period. Tidal Investments LLC's holdings in PepsiCo were worth $12,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC increased its position in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company's stock worth $547,626,000 after buying an additional 3,201,676 shares during the period. State Street Corp grew its position in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company's stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Swedbank AB increased its holdings in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company's stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company's stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Finally, Legal & General Group Plc grew its position in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company's stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.4 %

NASDAQ:PEP traded down $0.59 during trading hours on Friday, hitting $158.31. 2,227,825 shares of the stock traded hands, compared to its average volume of 5,500,528. The firm has a 50 day moving average price of $165.94 and a 200 day moving average price of $169.13. The firm has a market cap of $217.20 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.92 and a beta of 0.52. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two 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.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 firm 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 earned $2.25 EPS. The business's revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.42%. PepsiCo's dividend payout ratio is presently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. 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 research note on Friday, September 20th. StockNews.com upgraded shares of PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. TD Cowen cut shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a "hold" rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of "Hold" and a consensus price target of $184.31.

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.