Taurus Asset Management LLC Has $6.51 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Taurus Asset Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,283 shares of the company's stock after selling 5,400 shares during the quarter. Taurus Asset Management LLC's holdings in PepsiCo were worth $6,510,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PEP. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC lifted its position in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the second quarter worth approximately $30,000. Finally, Rakuten Securities Inc. grew its position in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company's stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP traded up $0.12 during mid-day trading on Monday, hitting $158.74. The company's stock had a trading volume of 2,879,439 shares, compared to its average volume of 5,454,477. The stock's 50-day moving average is $170.82 and its two-hundred day moving average is $171.50. The firm has a market capitalization of $217.79 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a one year low of $157.76 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analysts Set New Price Targets

PEP has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, September 30th. TD Cowen downgraded PepsiCo from a "buy" rating to a "hold" rating and dropped their price objective 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 target price for the company. in a research note on Friday, September 20th. Finally, Royal Bank of Canada dropped their price target 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 research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PepsiCo presently has an average rating of "Hold" and a consensus price target of $183.92.

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.