MAI Capital Management Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

MAI Capital Management lowered its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 275,172 shares of the company's stock after selling 8,568 shares during the quarter. MAI Capital Management's holdings in PepsiCo were worth $46,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aljian Capital Management LLC bought a new stake in PepsiCo in the 3rd quarter worth approximately $541,000. TrinityPoint Wealth LLC increased its position in PepsiCo by 1.3% in the third quarter. TrinityPoint Wealth LLC now owns 15,499 shares of the company's stock worth $2,636,000 after purchasing an additional 204 shares during the last quarter. Claro Advisors LLC lifted its position in PepsiCo by 5.9% during the third quarter. Claro Advisors LLC now owns 23,536 shares of the company's stock valued at $4,002,000 after purchasing an additional 1,319 shares during the last quarter. Concord Asset Management LLC VA grew its stake in shares of PepsiCo by 9.3% in the 3rd quarter. Concord Asset Management LLC VA now owns 17,234 shares of the company's stock worth $2,931,000 after buying an additional 1,460 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of PepsiCo in the 3rd quarter worth about $88,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 0.2 %

Shares of PepsiCo stock traded down $0.29 during trading on Monday, hitting $158.33. 6,960,243 shares of the stock traded hands, compared to its average volume of 5,472,910. The firm has a market cap of $217.23 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. 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, Inc. has a 52-week low of $157.76 and a 52-week high of $183.41. The stock's fifty day simple moving average is $170.42 and its 200 day simple moving average is $171.38.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly 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. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PEP. TD Cowen downgraded PepsiCo from a "buy" rating to a "hold" rating and decreased their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res upgraded PepsiCo to a "hold" rating in a research report on Thursday, October 10th. Finally, Morgan Stanley downgraded PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $183.92.

PepsiCo 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.