South Street Advisors LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,635 shares of the company's stock after selling 3,215 shares during the period. PepsiCo makes up about 1.9% of South Street Advisors LLC's investment portfolio, making the stock its 22nd largest holding. South Street Advisors LLC's holdings in PepsiCo were worth $12,692,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC lifted its position in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company's stock worth $16,968,000 after purchasing an additional 8,406 shares during the period. M&G Plc lifted its position in shares of PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company's stock valued at $70,334,000 after acquiring an additional 14,724 shares during the last quarter. Pinnacle Financial Partners Inc lifted its position in shares of PepsiCo by 3.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company's stock valued at $23,013,000 after acquiring an additional 4,547 shares during the last quarter. Fiduciary Family Office LLC lifted its position in shares of PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company's stock valued at $1,164,000 after acquiring an additional 3,727 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its position in shares of PepsiCo by 4.6% during the 3rd quarter. Empower Advisory Group LLC now owns 378,902 shares of the company's stock valued at $64,432,000 after acquiring an additional 16,523 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PEP has been the subject of a number of recent research reports. DZ Bank downgraded PepsiCo from a "buy" rating to a "hold" rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. Morgan Stanley downgraded 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. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Finally, Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has an average rating of "Hold" and a consensus price target of $183.92.
Check Out Our Latest Stock Analysis on PEP
PepsiCo Stock Down 4.0 %
Shares of NASDAQ PEP traded down $6.53 during mid-day trading on Friday, reaching $158.62. The company had a trading volume of 9,108,948 shares, compared to its average volume of 5,466,003. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market capitalization of $217.63 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The stock's 50 day moving average is $170.82 and its 200-day moving average is $171.56.
PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 earnings per share. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.
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.
Featured Stories
Before you consider PepsiCo, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PepsiCo wasn't on the list.
While PepsiCo currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
