US Bancorp DE Sells 32,504 Shares of PepsiCo, Inc. (NASDAQ:PEP)

US Bancorp DE cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,924,059 shares of the company's stock after selling 32,504 shares during the quarter. US Bancorp DE owned 0.14% of PepsiCo worth $327,188,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Catalyst Financial Partners LLC boosted its holdings in shares of PepsiCo by 10.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 6,263 shares of the company's stock worth $1,065,000 after acquiring an additional 602 shares in the last quarter. Tevis Investment Management grew its holdings in shares of PepsiCo by 3.1% in the 3rd quarter. Tevis Investment Management now owns 7,008 shares of the company's stock valued at $1,192,000 after acquiring an additional 208 shares in the last quarter. Goldstone Financial Group LLC acquired a new stake in PepsiCo in the 3rd quarter valued at about $866,000. Financial Advocates Investment Management lifted its position in PepsiCo by 3.7% during the third quarter. Financial Advocates Investment Management now owns 10,356 shares of the company's stock worth $1,761,000 after acquiring an additional 371 shares during the last quarter. Finally, Cornerstone Wealth Group LLC increased its stake in PepsiCo by 4.5% in the third quarter. Cornerstone Wealth Group LLC now owns 72,483 shares of the company's stock valued at $12,326,000 after acquiring an additional 3,089 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Price Performance

NASDAQ:PEP traded down $0.13 during trading hours on Thursday, reaching $166.08. 5,579,475 shares of the company were exchanged, compared to its average volume of 5,464,146. The company has a market capitalization of $228.32 billion, a P/E ratio of 24.13, a P/E/G ratio of 3.20 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The business has a 50 day moving average of $173.43 and a 200 day moving average of $172.25.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the business posted $2.25 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEP. TD Cowen lowered shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Bank of America reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a "hold" rating on the stock in a research note on Wednesday, October 9th. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.