PepsiCo, Inc. (NASDAQ:PEP) Stake Trimmed by Physicians Financial Services Inc.

Physicians Financial Services Inc. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 21,734 shares of the company’s stock after selling 400 shares during the period. PepsiCo makes up about 1.1% of Physicians Financial Services Inc.’s holdings, making the stock its 26th largest holding. Physicians Financial Services Inc.’s holdings in PepsiCo were worth $3,696,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Meixler Investment Management Ltd. boosted its stake in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC boosted its stake in shares of PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares in the last quarter. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton increased its stake in shares of PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after buying an additional 60 shares during the period. Finally, Oxbow Advisors LLC lifted its holdings in PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEP. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Finally, Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

NASDAQ:PEP traded up $0.40 during midday trading on Friday, hitting $164.40. The company had a trading volume of 268,457 shares, compared to its average volume of 5,443,749. The company has a market capitalization of $225.56 billion, a PE ratio of 24.19, a P/E/G ratio of 3.10 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. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The stock’s fifty day moving average price is $172.50 and its 200-day moving average price is $172.11.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the business posted $2.25 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, research analysts expect 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.