Independent Advisor Alliance Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Independent Advisor Alliance decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,503 shares of the company’s stock after selling 515 shares during the period. PepsiCo makes up approximately 0.7% of Independent Advisor Alliance’s holdings, making the stock its 27th largest holding. Independent Advisor Alliance’s holdings in PepsiCo were worth $18,111,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Kennedy Capital Management LLC bought a new position in shares of PepsiCo during the first quarter valued at about $4,342,000. Industrial Alliance Investment Management Inc. grew its stake in shares of PepsiCo by 4.0% during the first quarter. Industrial Alliance Investment Management Inc. now owns 3,349 shares of the company’s stock valued at $586,000 after buying an additional 128 shares during the last quarter. Sweeney & Michel LLC bought a new position in shares of PepsiCo during the first quarter valued at about $754,000. Dynasty Wealth Management LLC bought a new position in shares of PepsiCo during the first quarter valued at about $2,269,000. Finally, Ancora Advisors LLC grew its stake in shares of PepsiCo by 1.0% during the first quarter. Ancora Advisors LLC now owns 81,464 shares of the company’s stock valued at $14,257,000 after buying an additional 817 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 1.0 %

NASDAQ:PEP opened at $162.00 on Monday. 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. The company has a market cap of $222.26 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.53. The company has a 50 day simple moving average of $169.01 and a two-hundred day simple moving average of $170.89.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The firm’s revenue was down .6% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given 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%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PEP shares. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada cut their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

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.