Cutler Investment Counsel LLC Has $10.51 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Cutler Investment Counsel LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,791 shares of the company’s stock after selling 1,678 shares during the quarter. Cutler Investment Counsel LLC’s holdings in PepsiCo were worth $10,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Acadian Asset Management LLC grew its position in PepsiCo by 5.1% during the first quarter. Acadian Asset Management LLC now owns 760,925 shares of the company’s stock worth $133,147,000 after buying an additional 36,709 shares in the last quarter. Patten & Patten Inc. TN raised its stake in shares of PepsiCo by 7.7% during the first quarter. Patten & Patten Inc. TN now owns 60,720 shares of the company’s stock valued at $10,627,000 after acquiring an additional 4,320 shares during the last quarter. Chiron Capital Management LLC bought a new stake in PepsiCo in the first quarter valued at approximately $401,000. Edgestream Partners L.P. boosted its position in PepsiCo by 20.9% during the first quarter. Edgestream Partners L.P. now owns 4,605 shares of the company’s stock valued at $806,000 after acquiring an additional 796 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its position in shares of PepsiCo by 1.6% during the 1st quarter. Jacobi Capital Management LLC now owns 54,222 shares of the company’s stock worth $9,489,000 after buying an additional 873 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 4.0 %

Shares of NASDAQ PEP traded down $6.53 on Friday, reaching $158.62. 9,108,948 shares of the company’s stock traded hands, compared to its average volume of 5,466,003. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The business’s 50 day simple moving average is $170.82 and its two-hundred day simple moving average is $171.56. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The company has a market cap of $217.63 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 EPS. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of analyst reports. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $183.92.

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.