Garrison Asset Management LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Garrison Asset Management LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,753 shares of the company’s stock after selling 483 shares during the period. PepsiCo accounts for about 1.8% of Garrison Asset Management LLC’s portfolio, making the stock its 18th largest position. Garrison Asset Management LLC’s holdings in PepsiCo were worth $3,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in PEP. Quent Capital LLC grew its holdings in shares of PepsiCo by 6.5% during the first quarter. Quent Capital LLC now owns 7,066 shares of the company’s stock worth $1,237,000 after buying an additional 431 shares in the last quarter. Mutual Advisors LLC raised its holdings in PepsiCo by 14.8% in the 1st quarter. Mutual Advisors LLC now owns 26,846 shares of the company’s stock valued at $4,698,000 after acquiring an additional 3,468 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. boosted its holdings in shares of PepsiCo by 4.5% during the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,934 shares of the company’s stock worth $1,389,000 after purchasing an additional 339 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of PepsiCo by 2.5% in the first quarter. Proficio Capital Partners LLC now owns 5,566 shares of the company’s stock valued at $974,000 after purchasing an additional 135 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its position in PepsiCo by 2.3% during the first quarter. RiverPark Advisors LLC now owns 5,355 shares of the company’s stock worth $937,000 after buying an additional 121 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent analyst reports. Jefferies Financial Group decreased their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

Shares of PEP stock traded up $1.05 during mid-day trading on Monday, reaching $166.64. The company’s stock had a trading volume of 541,514 shares, compared to its average volume of 5,444,437. 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 firm’s 50-day moving average is $173.03 and its two-hundred day moving average is $172.25. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a market cap of $228.63 billion, a P/E ratio of 24.42, a PEG ratio of 3.09 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, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during 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 for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $2.25 EPS. On average, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current 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.