PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,087 shares of the company’s stock after selling 2,656 shares during the period. River Road Asset Management LLC’s holdings in PepsiCo were worth $10,218,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PEP. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% in the 3rd 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 bought a new position in shares of PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC boosted its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at about $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PEP. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a report on Friday, July 19th. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. One research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 0.9 %

NASDAQ:PEP opened at $167.85 on Wednesday. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The firm has a market cap of $230.29 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 3.09 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company’s 50 day moving average is $172.69 and its 200-day moving average is $172.16.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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 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%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $2.25 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo 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.