Stokes & Hubbell Capital Management LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,083 shares of the company’s stock after selling 3,941 shares during the quarter. PepsiCo comprises 1.0% of Stokes & Hubbell Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. Stokes & Hubbell Capital Management LLC’s holdings in PepsiCo were worth $5,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PEP. Mainstay Capital Management LLC ADV boosted its holdings in shares of PepsiCo by 10,787.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 10,887 shares of the company’s stock worth $100,000 after buying an additional 10,787 shares in the last quarter. WP Advisors LLC bought a new position in shares of PepsiCo during the 2nd quarter worth approximately $118,000. Fort L.P. bought a new position in shares of PepsiCo during the 2nd quarter worth approximately $125,000. Canton Hathaway LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $127,000. Finally, Atlas Capital Advisors LLC boosted its holdings in shares of PepsiCo by 85.7% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock worth $149,000 after buying an additional 600 shares in the last quarter. 70.58% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Mike Spanos sold 20,074 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $112.42, for a total value of $2,256,719.08. Following the completion of the sale, the chief executive officer now directly owns 35,520 shares of the company’s stock, valued at approximately $3,993,158.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mehmood Khan sold 168,295 shares of the stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $110.12, for a total value of $18,532,645.40. Following the completion of the sale, the executive vice president now directly owns 173,702 shares of the company’s stock, valued at $19,128,064.24. The disclosure for this sale can be found here. Insiders sold a total of 205,893 shares of company stock valued at $22,663,157 over the last three months. 0.27% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on PEP shares. Goldman Sachs Group restated a “sell” rating and set a $108.00 price target on shares of PepsiCo in a report on Monday, August 20th. BidaskClub lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Tuesday, September 11th. Guggenheim started coverage on PepsiCo in a research report on Thursday, September 13th. They set a “neutral” rating and a $117.00 target price on the stock. Finally, Macquarie set a $122.00 target price on PepsiCo and gave the stock an “outperform” rating in a research report on Friday, September 28th. Two investment 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. PepsiCo has an average rating of “Hold” and a consensus target price of $117.89.

Shares of NASDAQ:PEP opened at $117.80 on Thursday. The company has a market cap of $166.28 billion, a PE ratio of 22.52, a PEG ratio of 2.95 and a beta of 0.60. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51. 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 (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $16.49 billion during the quarter, compared to analyst estimates of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. PepsiCo’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 EPS. Equities analysts predict that PepsiCo, Inc. will post 5.65 EPS for the current fiscal year.

The business 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 $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, December 6th. PepsiCo’s payout ratio is currently 70.94%.

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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.

Further Reading: Dividend Aristocrat Index

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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