SevenBridge Financial Group LLC Sells 151 Shares of PepsiCo, Inc. (NASDAQ:PEP)

SevenBridge Financial Group LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 35,747 shares of the company’s stock after selling 151 shares during the period. PepsiCo makes up 1.8% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 12th largest holding. SevenBridge Financial Group LLC’s holdings in PepsiCo were worth $5,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Amundi bought a new position in shares of PepsiCo in the 2nd quarter valued at about $986,948,000. American Century Companies Inc. lifted its holdings in shares of PepsiCo by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 4,706,803 shares of the company’s stock valued at $697,407,000 after acquiring an additional 1,779,157 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 10.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,524,455 shares of the company’s stock valued at $2,003,918,000 after acquiring an additional 1,247,445 shares during the last quarter. Yacktman Asset Management LP lifted its holdings in shares of PepsiCo by 35.0% in the 2nd quarter. Yacktman Asset Management LP now owns 4,478,683 shares of the company’s stock valued at $663,606,000 after acquiring an additional 1,162,115 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of PepsiCo by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,957,138 shares of the company’s stock valued at $438,159,000 after acquiring an additional 1,072,161 shares during the last quarter. 70.48% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price objective for the company. in a research note on Monday, August 9th. Guggenheim raised their target price on shares of PepsiCo from $171.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, September 21st. Evercore ISI reaffirmed a “hold” rating and issued a $160.00 price target on shares of PepsiCo in a report on Thursday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PepsiCo from $158.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 6th. Finally, Barclays lifted their price objective on shares of PepsiCo from $165.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $162.86.

In other news, CFO Hugh F. Johnston sold 37,266 shares of the company’s stock in a transaction that occurred on Thursday, October 21st. The shares were sold at an average price of $160.30, for a total value of $5,973,739.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

NASDAQ:PEP opened at $163.74 on Thursday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.95 and a quick ratio of 0.77. The firm has a market capitalization of $226.40 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.97 and a beta of 0.62. The company’s 50-day moving average is $158.84 and its two-hundred day moving average is $154.23. PepsiCo, Inc. has a 1-year low of $128.32 and a 1-year high of $166.80.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 7th. Stockholders of record on Friday, December 3rd will be issued a $1.075 dividend. The ex-dividend date is Thursday, December 2nd. This represents a $4.30 annualized dividend and a dividend yield of 2.63%. PepsiCo’s dividend payout ratio is currently 73.25%.

PepsiCo 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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Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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