PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 996,173 shares of the company’s stock after selling 13,459 shares during the quarter. PepsiCo comprises approximately 0.8% of Glenmede Trust Co. NA’s investment portfolio, making the stock its 21st largest holding. Glenmede Trust Co. NA’s holdings in PepsiCo were worth $169,399,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Meixler Investment Management Ltd. grew its holdings in shares of PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares during the period. Opes Wealth Management LLC lifted its holdings in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates grew its stake in shares of PepsiCo by 59.0% in 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 last quarter. Bank of Stockton increased its position in PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after buying an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC increased its stake in PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $162.16 on Wednesday. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41. The firm has a market capitalization of $222.48 billion, a PE ratio of 23.92, a P/E/G ratio of 3.04 and a beta of 0.53. The business’s 50 day moving average price is $168.43 and its 200-day moving average price is $170.66. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.