Diversify Advisory Services LLC Has $3.39 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Diversify Advisory Services LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 17.9% in the 3rd quarter, Holdings Channel reports. The fund owned 19,441 shares of the company’s stock after selling 4,251 shares during the quarter. Diversify Advisory Services LLC’s holdings in PepsiCo were worth $3,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Tributary Capital Management LLC acquired a new position in PepsiCo in the 1st quarter valued at approximately $89,000. Iams Wealth Management LLC boosted its stake in PepsiCo by 12.9% during the first quarter. Iams Wealth Management LLC now owns 6,216 shares of the company’s stock worth $1,038,000 after buying an additional 712 shares in the last quarter. Cullinan Associates Inc. increased its holdings in PepsiCo by 1.6% in the 1st quarter. Cullinan Associates Inc. now owns 29,588 shares of the company’s stock valued at $5,178,000 after buying an additional 463 shares during the period. Westhampton Capital LLC raised its stake in shares of PepsiCo by 2.8% in the 1st quarter. Westhampton Capital LLC now owns 27,802 shares of the company’s stock valued at $4,866,000 after buying an additional 763 shares in the last quarter. Finally, Financial Strategies Group Inc. boosted its position in shares of PepsiCo by 26.8% during the 1st quarter. Financial Strategies Group Inc. now owns 22,664 shares of the company’s stock valued at $3,867,000 after acquiring an additional 4,789 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PEP shares. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada cut their price objective on 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 cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. One equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Down 1.0 %

Shares of NASDAQ PEP traded down $1.68 during mid-day trading on Tuesday, hitting $168.16. The company had a trading volume of 225,103 shares, compared to its average volume of 5,443,313. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a market capitalization of $231.18 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53. 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 firm has a 50-day simple moving average of $173.78 and a two-hundred day simple moving average of $172.29.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (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 analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the business posted $2.25 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

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.