REDW Wealth LLC Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

REDW Wealth LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,561 shares of the company’s stock after selling 100 shares during the quarter. REDW Wealth LLC’s holdings in PepsiCo were worth $435,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEP. International Assets Investment Management LLC lifted its position in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. Flossbach Von Storch AG raised its stake in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. Swedbank AB raised its stake in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. raised its stake in PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Royal Bank of Canada cut 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. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group cut their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ:PEP opened at $165.59 on Friday. The company has a market cap of $227.19 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.09 and a beta of 0.53. The firm’s 50-day simple moving average is $173.03 and its 200-day simple moving average is $172.23. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 earnings per share. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.15 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.