PepsiCo, Inc. $PEP Position Trimmed by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 28.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,229 shares of the company’s stock after selling 21,764 shares during the quarter. Goelzer Investment Management Inc.’s holdings in PepsiCo were worth $7,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PEP. Nova Wealth Management Inc. acquired a new position in shares of PepsiCo in the first quarter worth $25,000. Evolution Wealth Management Inc. purchased a new position in PepsiCo in the second quarter valued at about $27,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its stake in shares of PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEP. BNP Paribas Exane cut their price objective on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. Rothschild & Co Redburn raised their target price on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a report on Monday, December 15th. Piper Sandler upped their price target on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Finally, Wall Street Zen raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $158.75.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $148.16 on Monday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The company has a market cap of $202.59 billion, a P/E ratio of 28.17, a P/E/G ratio of 5.11 and a beta of 0.42. The business’s 50 day moving average is $148.00 and its two-hundred day moving average is $143.02. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. PepsiCo’s dividend payout ratio is 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.