PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,485 shares of the company’s stock after selling 124 shares during the period. Glass Wealth Management Co LLC’s holdings in PepsiCo were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates boosted its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo during the third quarter worth approximately $28,000. POM Investment Strategies LLC grew its position in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the 2nd quarter valued at $30,000. Finally, Rakuten Securities Inc. boosted its stake in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

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

PepsiCo Stock Performance

Shares of PEP stock opened at $158.62 on Monday. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock’s 50-day moving average is $170.82 and its two-hundred day moving average is $171.50. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market cap of $217.63 billion, a P/E ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company posted $2.25 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal 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.