Measured Wealth Private Client Group LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 36.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,942 shares of the company’s stock after selling 1,113 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in PepsiCo were worth $266,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Rockland Trust Co. grew its position in PepsiCo by 4.5% during the third quarter. Rockland Trust Co. now owns 204,180 shares of the company’s stock worth $28,162,000 after buying an additional 8,839 shares during the period. HBW Advisory Services LLC acquired a new position in PepsiCo during the third quarter worth about $1,959,000. Country Trust Bank acquired a new position in PepsiCo during the third quarter worth about $27,192,000. Pacer Advisors Inc. grew its position in PepsiCo by 11.7% during the third quarter. Pacer Advisors Inc. now owns 250,700 shares of the company’s stock worth $34,371,000 after buying an additional 26,306 shares during the period. Finally, Baldwin Brothers Inc. MA grew its position in PepsiCo by 1.4% during the third quarter. Baldwin Brothers Inc. MA now owns 119,736 shares of the company’s stock worth $16,415,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds own 71.46% of the company’s stock.
Shares of PEP traded down $0.14 on Friday, hitting $137.75. 66,350 shares of the stock traded hands, compared to its average volume of 4,508,839. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $191.37 billion, a P/E ratio of 24.34, a P/E/G ratio of 3.57 and a beta of 0.56. The stock’s 50 day moving average is $135.89 and its two-hundred day moving average is $130.57. PepsiCo, Inc. has a 1 year low of $104.53 and a 1 year high of $140.45.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.06. The business had revenue of $17.19 billion for the quarter, compared to the consensus estimate of $16.93 billion. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 earnings per share. Research analysts forecast that PepsiCo, Inc. will post 5.5 EPS for the current year.
Several research analysts have weighed in on PEP shares. Citigroup upped their target price on shares of PepsiCo from $139.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. set a $154.00 target price on shares of PepsiCo and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America upped their target price on shares of PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. ValuEngine lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Deutsche Bank increased their price target on shares of PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $135.53.
In related news, CEO Kirk Tanner sold 9,573 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the transaction, the chief executive officer now owns 105,350 shares of the company’s stock, valued at $13,500,602.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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