First Dallas Securities Inc. Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

First Dallas Securities Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 21.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,845 shares of the company’s stock after selling 797 shares during the period. First Dallas Securities Inc.’s holdings in PepsiCo were worth $484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEP. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC boosted its holdings in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the second quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter worth approximately $31,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PEP shares. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Up 1.1 %

NASDAQ PEP opened at $159.47 on Tuesday. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The company has a 50-day moving average of $166.62 and a 200-day moving average of $169.42. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market cap of $218.79 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.94 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company posted $2.25 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.