PepsiCo, Inc. $PEP Shares Sold by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,391 shares of the company’s stock after selling 1,842 shares during the period. PepsiCo comprises about 1.2% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 20th biggest holding. Van Cleef Asset Management Inc’s holdings in PepsiCo were worth $11,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Nova Wealth Management Inc. acquired a new position in shares of PepsiCo in the 1st quarter worth approximately $25,000. Legend Financial Advisors Inc. bought a new position in PepsiCo during the second quarter worth $29,000. Frazier Financial Advisors LLC boosted its holdings in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the period. RMG Wealth Management LLC bought a new stake in PepsiCo during the second quarter valued at $45,000. Finally, Investment Research & Advisory Group Inc. raised its holdings in shares of PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PEP shares. Bank of America lifted their price target on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Evercore ISI lifted their target price on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Cowen reiterated a “hold” rating on shares of PepsiCo in a research report on Thursday, July 17th. Wells Fargo & Company raised their price target on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. lowered their price objective on PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.95.

PepsiCo Stock Up 1.0%

PEP opened at $142.95 on Friday. The stock’s 50 day moving average price is $145.31 and its 200 day moving average price is $139.75. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The stock has a market cap of $195.46 billion, a P/E ratio of 27.18, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $166.88.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

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.