PepsiCo, Inc. (NASDAQ:PEP) is Tyche Wealth Partners LLC’s Largest Position

Tyche Wealth Partners LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,465 shares of the company’s stock after selling 264 shares during the period. PepsiCo makes up approximately 7.6% of Tyche Wealth Partners LLC’s holdings, making the stock its largest holding. Tyche Wealth Partners LLC’s holdings in PepsiCo were worth $33,749,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares during the last quarter. Flossbach Von Storch AG boosted its holdings in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. Swedbank AB raised its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the period. PineStone Asset Management Inc. raised its stake in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares during the period. Finally, Van ECK Associates Corp increased its stake in PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after buying an additional 1,179,922 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Royal Bank of Canada dropped 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. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research report on Friday, July 19th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP traded down $1.58 during midday trading on Tuesday, reaching $168.26. The company’s stock had a trading volume of 1,173,466 shares, compared to its average volume of 5,447,085. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a 50 day moving average price of $173.78 and a 200 day moving average price of $172.29. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a market cap of $231.32 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released 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 net margin of 10.18% and a return on equity of 57.32%. The business 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 firm earned $2.25 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS 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.