Mitchell Mcleod Pugh & Williams Inc. Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Mitchell Mcleod Pugh & Williams Inc. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,766 shares of the company’s stock after selling 106 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in PepsiCo were worth $2,001,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Atomi Financial Group Inc. raised its stake in shares of PepsiCo by 28.7% in the first quarter. Atomi Financial Group Inc. now owns 5,308 shares of the company’s stock valued at $929,000 after buying an additional 1,183 shares during the period. Choate Investment Advisors lifted its holdings in PepsiCo by 0.5% during the first quarter. Choate Investment Advisors now owns 143,929 shares of the company’s stock valued at $25,189,000 after purchasing an additional 751 shares during the last quarter. NorthRock Partners LLC boosted its position in PepsiCo by 17.6% during the first quarter. NorthRock Partners LLC now owns 13,928 shares of the company’s stock worth $2,438,000 after purchasing an additional 2,083 shares during the period. Meeder Asset Management Inc. increased its stake in shares of PepsiCo by 7.1% in the first quarter. Meeder Asset Management Inc. now owns 3,483 shares of the company’s stock worth $610,000 after purchasing an additional 232 shares in the last quarter. Finally, Capital Square LLC purchased a new stake in shares of PepsiCo during the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PEP shares. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Royal Bank of Canada cut their price objective 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. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One investment 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’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Up 0.7 %

PEP traded up $1.11 during trading on Friday, hitting $165.11. 4,618,265 shares of the stock traded hands, compared to its average volume of 5,463,349. The firm has a 50-day moving average of $172.19 and a 200 day moving average of $171.97. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The firm has a market capitalization of $226.53 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The business 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 was down .6% on a year-over-year basis. During the same quarter last year, the business posted $2.25 EPS. Equities research analysts anticipate 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.