Frank Rimerman Advisors LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Frank Rimerman Advisors LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,396 shares of the company’s stock after selling 679 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in PepsiCo were worth $1,938,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital Advisors Ltd. LLC grew its holdings in shares of PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after buying an additional 139 shares in the last quarter. Norden Group LLC grew its holdings in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after buying an additional 174,171 shares in the last quarter. M&G Plc grew its holdings in shares of PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the period. OLD Second National Bank of Aurora grew its holdings in shares of PepsiCo by 32.7% in the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock valued at $4,079,000 after purchasing an additional 5,737 shares during the period. Finally, Koss Olinger Consulting LLC grew its holdings in shares of PepsiCo by 1,320.5% in the first quarter. Koss Olinger Consulting LLC now owns 33,425 shares of the company’s stock valued at $5,850,000 after purchasing an additional 31,072 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PEP shares. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Hsbc Global Res raised shares of 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 for the company in a report on Friday, October 4th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their target price 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. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Down 0.2 %

Shares of PEP opened at $171.79 on Friday. The stock has a market capitalization of $236.17 billion, a PE ratio of 24.93, a P/E/G ratio of 3.25 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 debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company’s 50-day simple moving average is $173.86 and its 200-day simple moving average is $172.26.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results 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 analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. 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.