Thurston Springer Miller Herd & Titak Inc. Trims Stock Holdings in PepsiCo, Inc. $PEP

Thurston Springer Miller Herd & Titak Inc. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 92.5% in the third quarter, HoldingsChannel.com reports. The fund owned 1,931 shares of the company’s stock after selling 23,883 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in PepsiCo were worth $271,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Claris Advisors LLC MO boosted its holdings in shares of PepsiCo by 14.1% in the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after acquiring an additional 308 shares during the last quarter. Foster Group Inc. lifted its position in PepsiCo by 4.6% during the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after purchasing an additional 229 shares during the period. Merit Financial Group LLC boosted its holdings in PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares during the last quarter. Fulton Bank N.A. grew its position in PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after purchasing an additional 620 shares during the period. Finally, Naples Global Advisors LLC raised its stake in shares of PepsiCo by 2.3% during the 2nd quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock valued at $3,469,000 after buying an additional 592 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the topic of several analyst reports. UBS Group reaffirmed a “buy” rating and set a $172.00 target price on shares of PepsiCo in a report on Tuesday, December 9th. Jefferies Financial Group upped their price objective on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Wall Street Zen raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Finally, DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research note on Tuesday, October 21st. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $158.50.

PepsiCo Price Performance

NASDAQ:PEP opened at $150.37 on Wednesday. The stock has a 50 day moving average of $147.72 and a two-hundred day moving average of $142.64. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The firm has a market cap of $205.61 billion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 5.22 and a beta of 0.42. 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 issued its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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

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.