Bank of Marin Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Bank of Marin lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,780 shares of the company’s stock after selling 410 shares during the quarter. Bank of Marin’s holdings in PepsiCo were worth $473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its stake in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Empirical Finance LLC raised its stake in PepsiCo by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 47,541 shares of the company’s stock valued at $8,084,000 after purchasing an additional 996 shares during the last quarter. Connable Office Inc. lifted its stake in shares of PepsiCo by 0.6% in the third quarter. Connable Office Inc. now owns 15,861 shares of the company’s stock worth $2,697,000 after buying an additional 89 shares in the last quarter. Dearborn Partners LLC boosted its holdings in shares of PepsiCo by 0.3% during the 3rd quarter. Dearborn Partners LLC now owns 78,291 shares of the company’s stock worth $13,313,000 after purchasing an additional 208 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in PepsiCo by 6.7% during the third quarter. CIBC Asset Management Inc now owns 534,607 shares of the company’s stock worth $90,910,000 after buying an additional 33,679 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $3.06 on Friday, reaching $162.09. 941,675 shares of the company were exchanged, compared to its average volume of 5,429,287. The firm has a market cap of $222.39 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a 50-day moving average of $171.19 and a 200-day moving average of $171.68. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the business earned $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PEP shares. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $183.92.

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.