Atalanta Sosnoff Capital LLC reduced its stake in shares of PepsiCo Inc. (NYSE:PEP) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,679 shares of the company’s stock after selling 23,877 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in PepsiCo were worth $29,877,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PEP. Piershale Financial Group Inc. increased its stake in PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock valued at $106,000 after buying an additional 4 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in PepsiCo by 0.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,320 shares of the company’s stock valued at $139,000 after buying an additional 4 shares during the period. Delphi Private Advisors LLC increased its position in PepsiCo by 1.3% in the second quarter. Delphi Private Advisors LLC now owns 1,002 shares of the company’s stock valued at $106,000 after buying an additional 13 shares during the period. Redmond Asset Management LLC increased its position in PepsiCo by 0.3% in the second quarter. Redmond Asset Management LLC now owns 7,183 shares of the company’s stock valued at $761,000 after buying an additional 18 shares during the period. Finally, Hanson McClain Inc. increased its position in PepsiCo by 0.5% in the second quarter. Hanson McClain Inc. now owns 4,428 shares of the company’s stock valued at $469,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Institutional Ownership by Quarter for PepsiCo (NYSE:PEP)

Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.82% on Monday, hitting $103.01. 3,380,974 shares of the stock were exchanged. The firm has a market cap of $147.74 billion, a price-to-earnings ratio of 22.60 and a beta of 0.54. The firm’s 50 day moving average price is $105.22 and its 200 day moving average price is $105.82. PepsiCo Inc. has a one year low of $93.25 and a one year high of $110.94.

PepsiCo (NYSE:PEP) last released its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.08. The business earned $16 billion during the quarter. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. PepsiCo’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 earnings per share. Equities analysts anticipate that PepsiCo Inc. will post $4.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, November 30th. PepsiCo’s dividend payout ratio is currently 66.01%.

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Several equities analysts have commented on PEP shares. Deutsche Bank AG restated a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a research note on Monday, October 3rd. Bank of America Corp. restated a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a research note on Friday, September 30th. Credit Suisse Group AG restated a “buy” rating and issued a $122.00 price target on shares of PepsiCo in a research note on Friday, September 30th. Jefferies Group restated a “buy” rating and issued a $122.00 price target (down previously from $124.00) on shares of PepsiCo in a research note on Friday, September 30th. Finally, Vetr upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 price target for the company in a research note on Wednesday, September 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $113.71.

PepsiCo Company Profile

PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.

5 Day Chart for NYSE:PEP

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