Nixon Peabody Trust Co. Trims Stake in PepsiCo, Inc. $PEP

Nixon Peabody Trust Co. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,832 shares of the company’s stock after selling 10,827 shares during the period. Nixon Peabody Trust Co.’s holdings in PepsiCo were worth $6,052,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Parcion Private Wealth LLC acquired a new position in shares of PepsiCo in the first quarter valued at approximately $258,000. Ascent Wealth Partners LLC raised its stake in shares of PepsiCo by 27.0% during the first quarter. Ascent Wealth Partners LLC now owns 16,735 shares of the company’s stock worth $2,509,000 after purchasing an additional 3,559 shares during the last quarter. Dynasty Wealth Management LLC lifted its holdings in shares of PepsiCo by 504.1% during the first quarter. Dynasty Wealth Management LLC now owns 9,931 shares of the company’s stock worth $1,489,000 after purchasing an additional 8,287 shares during the period. Finally, Graypoint LLC grew its position in PepsiCo by 32.5% in the 1st quarter. Graypoint LLC now owns 10,500 shares of the company’s stock valued at $1,574,000 after buying an additional 2,574 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Wells Fargo & Company raised their price objective on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Barclays boosted their target price on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Loop Capital set a $164.00 price target on PepsiCo in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada cut their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.95.

PepsiCo Stock Performance

NASDAQ PEP opened at $145.02 on Friday. The business has a 50 day moving average price of $144.96 and a 200 day moving average price of $139.91. 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 company has a market capitalization of $198.29 billion, a P/E ratio of 27.57, a PEG ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $166.88.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Company Profile

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.