GSB Wealth Management LLC Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

GSB Wealth Management LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,355 shares of the company’s stock after selling 138 shares during the quarter. GSB Wealth Management LLC’s holdings in PepsiCo were worth $2,951,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PEP. Norden Group LLC increased its stake in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the last quarter. M&G Plc boosted its stake in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the period. OLD Second National Bank of Aurora grew its holdings in shares of PepsiCo by 32.7% in the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock worth $4,079,000 after purchasing an additional 5,737 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in PepsiCo by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after buying an additional 2,976 shares during the last quarter. Finally, Viking Fund Management LLC boosted its position in PepsiCo by 8.2% during the 3rd quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock valued at $11,223,000 after buying an additional 5,000 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PEP. Jefferies Financial Group lowered their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

NASDAQ PEP opened at $167.50 on Wednesday. The stock has a market capitalization of $230.28 billion, a PE ratio of 24.31, a P/E/G ratio of 3.20 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The business has a 50 day simple moving average of $173.61 and a two-hundred day simple moving average of $172.29. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the business posted $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.