PepsiCo, Inc. (NASDAQ:PEP) Stock Position Lowered by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 73.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,487 shares of the company’s stock after selling 95,920 shares during the period. Mizuho Markets Americas LLC’s holdings in PepsiCo were worth $5,865,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Legal & General Group Plc increased its stake in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after acquiring an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after acquiring an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. grew its stake in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Bank of Montreal Can increased its position in PepsiCo by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after purchasing an additional 492,888 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PEP shares. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Down 4.0 %

Shares of PEP stock opened at $158.62 on Friday. The firm has a fifty day moving average of $170.82 and a 200-day moving average of $171.53. The stock has a market cap of $217.63 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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