Summit Financial Strategies Inc. Has $226,000 Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Summit Financial Strategies Inc. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,329 shares of the company’s stock after selling 174 shares during the period. Summit Financial Strategies Inc.’s holdings in PepsiCo were worth $226,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC raised its holdings in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after acquiring an additional 139 shares in the last quarter. Norden Group LLC raised its holdings in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after acquiring an additional 174,171 shares in the last quarter. Meyer Handelman Co. raised its holdings in PepsiCo by 3.9% in the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after acquiring an additional 9,465 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of PepsiCo in the 1st quarter valued at approximately $28,366,000. Finally, M&G Plc grew its stake in shares of PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.0 %

Shares of NASDAQ PEP traded down $0.06 during mid-day trading on Thursday, hitting $174.42. The company had a trading volume of 748,947 shares, compared to its average volume of 5,477,869. The company has a market capitalization of $239.79 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The firm has a 50-day simple moving average of $173.68 and a two-hundred day simple moving average of $172.10. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41.

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

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PEP shares. Deutsche Bank Aktiengesellschaft decreased their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group decreased their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company decreased their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $183.92.

About PepsiCo

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.