Summit Place Financial Advisors LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Summit Place Financial Advisors LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,400 shares of the company’s stock after selling 462 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in PepsiCo were worth $918,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PEP. Insight Folios Inc boosted its stake in shares of PepsiCo by 4.2% during the 3rd quarter. Insight Folios Inc now owns 1,906 shares of the company’s stock worth $324,000 after acquiring an additional 76 shares in the last quarter. Peterson Wealth Advisors LLC acquired a new stake in PepsiCo in the 3rd quarter worth about $204,000. First Financial Bankshares Inc increased its stake in PepsiCo by 11.7% during the 3rd quarter. First Financial Bankshares Inc now owns 438,593 shares of the company’s stock worth $74,583,000 after buying an additional 45,846 shares in the last quarter. L. Roy Papp & Associates LLP raised its holdings in shares of PepsiCo by 0.6% during the third quarter. L. Roy Papp & Associates LLP now owns 46,061 shares of the company’s stock valued at $7,833,000 after acquiring an additional 289 shares during the last quarter. Finally, Conscious Wealth Investments LLC lifted its position in shares of PepsiCo by 2.9% in the third quarter. Conscious Wealth Investments LLC now owns 14,269 shares of the company’s stock valued at $2,468,000 after acquiring an additional 401 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.1 %

Shares of PEP stock opened at $171.62 on Monday. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The company has a 50 day moving average price of $173.86 and a 200 day moving average price of $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 $235.94 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 3.25 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the business posted $2.25 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group reduced their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Friday. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus 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.