LGT Capital Partners LTD. Sells 3,270 Shares of PepsiCo, Inc. (NASDAQ:PEP)

LGT Capital Partners LTD. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,421 shares of the company's stock after selling 3,270 shares during the quarter. LGT Capital Partners LTD.'s holdings in PepsiCo were worth $12,655,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Meixler Investment Management Ltd. boosted its holdings in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company's stock worth $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC increased its position in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company's stock worth $453,000 after purchasing an additional 59 shares during the period. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after buying an additional 59 shares in the last quarter. Bank of Stockton raised its position in PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company's stock valued at $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC increased its stake in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company's stock valued at $1,481,000 after buying an additional 60 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 1.4 %

PEP traded down $2.27 during trading on Tuesday, hitting $156.06. The company had a trading volume of 3,715,974 shares, compared to its average volume of 5,465,075. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The company has a market capitalization of $214.11 billion, a PE ratio of 23.13, a PEG ratio of 2.96 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm's 50-day moving average price is $170.42 and its 200 day moving average price is $171.38.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Barclays reduced their target price on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating for the company in a research report on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. One research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $183.92.

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.