PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Legacy Bridge LLC

Legacy Bridge LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,611 shares of the company’s stock after selling 265 shares during the period. Legacy Bridge LLC’s holdings in PepsiCo were worth $784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC raised its holdings in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the period. M&G Plc increased its position in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after buying an additional 4,547 shares during the period. Fiduciary Family Office LLC grew its stake in PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after buying an additional 3,727 shares during the period. Finally, Empower Advisory Group LLC increased its position in shares of PepsiCo by 4.6% in the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock worth $64,432,000 after acquiring an additional 16,523 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.2 %

NASDAQ:PEP opened at $158.33 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market capitalization of $217.23 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a one year low of $157.76 and a one year high of $183.41. The stock has a 50-day simple moving average of $170.42 and a 200 day simple moving average of $171.38.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the firm earned $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PEP shares. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada dropped their price objective 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. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus 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.