Confluence Investment Management LLC Sells 7,683 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Confluence Investment Management LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 897,170 shares of the company’s stock after selling 7,683 shares during the quarter. PepsiCo makes up approximately 1.9% of Confluence Investment Management LLC’s holdings, making the stock its 14th biggest position. Confluence Investment Management LLC owned about 0.07% of PepsiCo worth $136,424,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the third quarter valued at $31,000. Mattson Financial Services LLC bought a new stake in PepsiCo during the second quarter valued at about $34,000. Finally, Rakuten Securities Inc. raised its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP traded down $0.09 during midday trading on Thursday, reaching $151.97. 812,128 shares of the stock traded hands, compared to its average volume of 5,585,426. The company’s 50 day moving average is $160.39 and its 200 day moving average is $167.49. PepsiCo, Inc. has a one year low of $149.71 and a one year high of $183.41. The stock has a market capitalization of $208.50 billion, a PE ratio of 22.41, a P/E/G 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.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the company earned $2.25 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company 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 dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.57%. 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 equities research analysts recently issued reports on PEP shares. Royal Bank of Canada reduced their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $184.31.

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.