Procyon Private Wealth Partners LLC Sells 724 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Procyon Private Wealth Partners LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,824 shares of the company’s stock after selling 724 shares during the quarter. PepsiCo accounts for approximately 0.9% of Procyon Private Wealth Partners LLC’s holdings, making the stock its 27th biggest holding. Procyon Private Wealth Partners LLC’s holdings in PepsiCo were worth $3,433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of PepsiCo by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 120,742,994 shares of the company’s stock worth $17,890,489,000 after purchasing an additional 842,482 shares during the last quarter. State Street Corp lifted its position in PepsiCo by 0.9% during the 2nd quarter. State Street Corp now owns 58,115,575 shares of the company’s stock worth $8,610,985,000 after buying an additional 500,329 shares in the last quarter. Geode Capital Management LLC lifted its position in PepsiCo by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 22,126,124 shares of the company’s stock worth $3,268,932,000 after buying an additional 346,517 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 10.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,524,455 shares of the company’s stock worth $2,003,918,000 after buying an additional 1,247,445 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in PepsiCo by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 10,044,387 shares of the company’s stock worth $1,488,273,000 after buying an additional 190,255 shares in the last quarter. 70.48% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on PEP. UBS Group upped their price target on shares of PepsiCo from $170.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, October 6th. Zacks Investment Research downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price target on the stock. in a research report on Monday, August 9th. Evercore ISI restated a “hold” rating and set a $160.00 target price on shares of PepsiCo in a research report on Thursday, October 7th. Guggenheim upped their target price on shares of PepsiCo from $171.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, September 21st. Finally, Barclays upped their target price on shares of PepsiCo from $165.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $162.86.

In related news, CFO Hugh F. Johnston sold 37,266 shares of the stock in a transaction that occurred on Thursday, October 21st. The stock was sold at an average price of $160.30, for a total transaction of $5,973,739.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:PEP opened at $163.74 on Thursday. The company has a market capitalization of $226.40 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 2.97 and a beta of 0.62. The firm’s 50 day simple moving average is $158.84 and its 200 day simple moving average is $154.23. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.95 and a quick ratio of 0.77. PepsiCo, Inc. has a fifty-two week low of $128.32 and a fifty-two week high of $166.80.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Monday, October 4th. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. PepsiCo had a net margin of 10.62% and a return on equity of 58.31%. The business had revenue of $20.19 billion for the quarter, compared to the consensus estimate of $19.39 billion. During the same period last year, the company posted $1.66 EPS. PepsiCo’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts expect that PepsiCo, Inc. will post 6.25 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 7th. Investors of record on Friday, December 3rd will be paid a dividend of $1.075 per share. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $4.30 dividend on an annualized basis and a yield of 2.63%. PepsiCo’s payout ratio is 73.25%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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