Granite Investment Partners LLC Sells 1,846 Shares of PepsiCo, Inc. $PEP

Granite Investment Partners LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,109 shares of the company’s stock after selling 1,846 shares during the period. Granite Investment Partners LLC’s holdings in PepsiCo were worth $5,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JSF Financial LLC boosted its stake in PepsiCo by 3.8% during the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after buying an additional 69 shares during the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of PepsiCo by 15.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock valued at $73,000 after acquiring an additional 72 shares during the last quarter. Weaver Consulting Group lifted its stake in shares of PepsiCo by 2.9% in the 2nd quarter. Weaver Consulting Group now owns 2,581 shares of the company’s stock valued at $341,000 after purchasing an additional 72 shares during the last quarter. Joel Isaacson & Co. LLC boosted its stake in PepsiCo by 0.5% during the second quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock worth $2,180,000 after buying an additional 74 shares during the period. Finally, Bull Street Advisors LLC grew its holdings in PepsiCo by 0.4% during the 2nd quarter. Bull Street Advisors LLC now owns 19,902 shares of the company’s stock valued at $2,628,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $149.51 on Tuesday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $163.65. The stock has a market cap of $204.43 billion, a PE ratio of 28.42, a P/E/G ratio of 3.56 and a beta of 0.45. The stock has a fifty day simple moving average of $146.18 and a 200-day simple moving average of $141.31. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

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

PepsiCo Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on PEP. Rothschild & Co Redburn raised their target price on shares of PepsiCo from $115.00 to $117.00 and gave the stock a “sell” rating in a research report on Monday, October 13th. HSBC upped their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Wells Fargo & Company lifted their price target on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Bank of America boosted their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, The Goldman Sachs Group boosted their target price on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $156.90.

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.