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PNC Financial Services Group Inc. Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

PepsiCo logo with Consumer Staples background

PNC Financial Services Group Inc. trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,678,522 shares of the company's stock after selling 41,717 shares during the quarter. PNC Financial Services Group Inc. owned about 0.34% of PepsiCo worth $795,583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Edgestream Partners L.P. lifted its stake in PepsiCo by 20.9% in the first quarter. Edgestream Partners L.P. now owns 4,605 shares of the company's stock valued at $806,000 after buying an additional 796 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in PepsiCo by 0.7% during the 1st quarter. Evermay Wealth Management LLC now owns 11,166 shares of the company's stock worth $1,966,000 after purchasing an additional 83 shares during the period. Leelyn Smith LLC increased its stake in PepsiCo by 18.9% in the first quarter. Leelyn Smith LLC now owns 15,780 shares of the company's stock valued at $2,762,000 after purchasing an additional 2,505 shares during the period. Crewe Advisors LLC purchased a new stake in shares of PepsiCo in the first quarter valued at about $266,000. Finally, Payden & Rygel Investment Group acquired a new stake in shares of PepsiCo during the first quarter worth about $15,016,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on PEP shares. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research note on Wednesday, October 9th. TD Cowen downgraded PepsiCo from a "buy" rating to a "hold" rating and decreased their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Morgan Stanley cut shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. 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 note on Thursday, October 10th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a "hold" rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $183.92.

View Our Latest Report on PEP

PepsiCo Price Performance

Shares of PepsiCo stock traded down $1.61 on Tuesday, hitting $156.72. The company's stock had a trading volume of 7,195,365 shares, compared to its average volume of 5,479,357. 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 company has a market capitalization of $215.02 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. The firm has a fifty day moving average price of $170.42 and a 200-day moving average price of $171.38. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41.

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. The business had revenue of $23.32 billion during the quarter, compared to analysts' expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company's revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $2.25 EPS. On average, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.46%. PepsiCo's payout ratio is 79.94%.

About PepsiCo

(Free Report)

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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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