Douglass Winthrop Advisors LLC Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Douglass Winthrop Advisors LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 47,096 shares of the company’s stock after selling 1,173 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in PepsiCo were worth $8,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennedy Capital Management LLC purchased a new position in PepsiCo during the first quarter valued at approximately $4,342,000. Industrial Alliance Investment Management Inc. increased its stake in PepsiCo by 4.0% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 3,349 shares of the company’s stock worth $586,000 after acquiring an additional 128 shares during the last quarter. Sweeney & Michel LLC purchased a new stake in shares of PepsiCo during the 1st quarter worth approximately $754,000. Dynasty Wealth Management LLC bought a new position in shares of PepsiCo during the 1st quarter valued at approximately $2,269,000. Finally, Ancora Advisors LLC increased its position in PepsiCo by 1.0% in the first quarter. Ancora Advisors LLC now owns 81,464 shares of the company’s stock worth $14,257,000 after purchasing an additional 817 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several research reports. Royal Bank of Canada lowered 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. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen lowered shares of 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 research note on Thursday, October 10th. Finally, Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

NASDAQ PEP opened at $162.00 on Monday. The firm’s fifty day simple moving average is $169.01 and its two-hundred day simple moving average is $170.89. The firm has a market capitalization of $222.26 billion, a P/E ratio of 23.89, a P/E/G ratio of 3.02 and a beta of 0.53. 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 12-month low of $155.85 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results 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. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.25 EPS. Analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors 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 yield of 3.35%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.