GAMMA Investing LLC Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

GAMMA Investing LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,891 shares of the company’s stock after selling 1,233 shares during the quarter. GAMMA Investing LLC’s holdings in PepsiCo were worth $3,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the third quarter valued at approximately $31,000. Rakuten Securities Inc. increased its position in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Barclays dropped their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $184.31.

PepsiCo Stock Performance

NASDAQ:PEP opened at $150.21 on Friday. PepsiCo, Inc. has a 1-year low of $149.71 and a 1-year high of $183.41. The stock has a market cap of $206.09 billion, a P/E ratio of 22.15, a PEG ratio of 2.94 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a 50-day moving average of $159.95 and a two-hundred day moving average of $167.37.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share 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 firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the firm earned $2.25 EPS. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.61%. 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.