QV Investors Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,145 shares of the company’s stock after selling 2,910 shares during the period. PepsiCo accounts for 2.8% of QV Investors Inc.’s holdings, making the stock its 19th biggest position. QV Investors Inc.’s holdings in PepsiCo were worth $26,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Hawaiian Bank raised its holdings in shares of PepsiCo by 1,673.7% in the third quarter. First Hawaiian Bank now owns 32,902 shares of the company’s stock worth $3,679,000 after buying an additional 31,047 shares during the last quarter. Saratoga Research & Investment Management raised its holdings in shares of PepsiCo by 0.4% in the third quarter. Saratoga Research & Investment Management now owns 285,956 shares of the company’s stock worth $31,970,000 after buying an additional 1,225 shares during the last quarter. Bartlett & Co. LLC raised its holdings in shares of PepsiCo by 0.5% in the third quarter. Bartlett & Co. LLC now owns 470,849 shares of the company’s stock worth $52,641,000 after buying an additional 2,167 shares during the last quarter. MainStreet Investment Advisors LLC increased its stake in shares of PepsiCo by 2.4% in the third quarter. MainStreet Investment Advisors LLC now owns 83,463 shares of the company’s stock worth $9,331,000 after acquiring an additional 1,923 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its stake in shares of PepsiCo by 2.7% in the third quarter. Stock Yards Bank & Trust Co. now owns 65,284 shares of the company’s stock worth $7,299,000 after acquiring an additional 1,690 shares during the period. 70.58% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. BidaskClub upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. Morgan Stanley reiterated an “overweight” rating on shares of PepsiCo in a research note on Friday, October 5th. Finally, Macquarie lowered shares of PepsiCo from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $122.00 to $107.00 in a research note on Friday, October 5th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $117.89.

PEP stock opened at $117.80 on Wednesday. The firm has a market cap of $172.13 billion, a P/E ratio of 22.52, a PEG ratio of 2.98 and a beta of 0.60. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 2.95. PepsiCo, Inc. has a one year low of $95.94 and a one year high of $122.51.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.02. The company had revenue of $16.49 billion for the quarter, compared to analyst estimates of $16.38 billion. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.48 earnings per share. Research analysts predict that PepsiCo, Inc. will post 5.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Friday, December 7th will be given a dividend of $0.9275 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $3.71 annualized dividend and a yield of 3.15%. PepsiCo’s dividend payout ratio is presently 70.94%.

In related news, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total transaction of $587,345.00. Following the sale, the chief executive officer now owns 130,135 shares in the company, valued at $13,897,116.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mike Spanos sold 20,074 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total transaction of $2,256,719.08. Following the sale, the chief executive officer now owns 35,520 shares in the company, valued at approximately $3,993,158.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,893 shares of company stock worth $22,663,157. 0.27% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: “PepsiCo, Inc. (PEP) Shares Sold by QV Investors Inc.” was first posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://www.watchlistnews.com/pepsico-inc-pep-shares-sold-by-qv-investors-inc/2662552.html.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

See Also: Derivative

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)

Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.