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

Clear Harbor Asset Management LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,421 shares of the company’s stock after selling 110 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in PepsiCo were worth $752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PEP. Meixler Investment Management Ltd. grew its stake in shares of PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC grew its position in PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after acquiring an additional 59 shares in the last quarter. Global Wealth Strategies & Associates raised its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Bank of Stockton lifted its position in shares of PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its stake in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.2 %

Shares of NASDAQ:PEP opened at $171.79 on Monday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company’s fifty day moving average is $173.86 and its two-hundred day moving average is $172.28. 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 stock has a market capitalization of $236.17 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 3.25 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results 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. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $2.25 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analysts Set New Price Targets

PEP has been the topic of several analyst reports. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, 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 research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.

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.