Mutual of America Capital Management LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Mutual of America Capital Management LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,915 shares of the company's stock after selling 4,257 shares during the period. Mutual of America Capital Management LLC's holdings in PepsiCo were worth $28,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Edgestream Partners L.P. boosted its holdings in shares of PepsiCo by 20.9% in the 1st quarter. Edgestream Partners L.P. now owns 4,605 shares of the company's stock valued at $806,000 after acquiring an additional 796 shares during the last quarter. Alley Investment Management Company LLC grew its position in PepsiCo by 0.7% during the 1st quarter. Alley Investment Management Company LLC now owns 68,315 shares of the company's stock worth $11,956,000 after purchasing an additional 445 shares during the period. Trustmark National Bank Trust Department raised its stake in shares of PepsiCo by 0.3% during the 1st quarter. Trustmark National Bank Trust Department now owns 35,257 shares of the company's stock valued at $6,170,000 after buying an additional 113 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in shares of PepsiCo by 2.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,587,186 shares of the company's stock valued at $452,783,000 after buying an additional 66,537 shares during the period. Finally, Penobscot Investment Management Company Inc. boosted its stake in shares of PepsiCo by 5.6% in the first quarter. Penobscot Investment Management Company Inc. now owns 53,416 shares of the company's stock worth $9,348,000 after buying an additional 2,847 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on PEP. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a "hold" rating in a research report on Thursday, October 10th. Morgan Stanley downgraded shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. Finally, Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an "overweight" rating for the company in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $183.92.

PepsiCo Price Performance

PEP stock traded down $6.53 during mid-day trading on Friday, reaching $158.62. The company's stock had a trading volume of 9,108,948 shares, compared to its average volume of 4,996,625. The stock has a market cap of $217.63 billion, a PE ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. The company's 50 day moving average is $170.82 and its two-hundred day moving average is $171.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate 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 firm earned $2.25 EPS. The company's quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

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.