Beaird Harris Wealth Management LLC Sells 71 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Beaird Harris Wealth Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 830 shares of the company’s stock after selling 71 shares during the period. Beaird Harris Wealth Management LLC’s holdings in PepsiCo were worth $141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth about $28,000. POM Investment Strategies LLC increased its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the 2nd quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter valued at about $31,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

PEP stock opened at $158.90 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The business’s fifty day moving average is $165.94 and its 200-day moving average is $169.13. The company has a market cap of $218.01 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.92 and a beta of 0.52.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen cut 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 report on Thursday, October 10th. Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $184.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $184.31.

PepsiCo Company 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.