PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,874 shares of the company’s stock after selling 872 shares during the period. Heritage Wealth Management Inc.’s holdings in PepsiCo were worth $2,019,000 at the end of the most recent reporting period.

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

PepsiCo Stock Performance

PEP stock traded up $0.44 during mid-day trading on Friday, hitting $164.44. 234,660 shares of the company were exchanged, compared to its average volume of 5,443,593. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $225.61 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. The business has a 50 day simple moving average of $172.50 and a 200-day simple moving average of $172.11. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the firm posted $2.25 EPS. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PEP shares. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Bank of America reduced their price target 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. Barclays reduced their target price 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. 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 note on Wednesday, October 9th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo 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.