Eads & Heald Wealth Management Sells 608 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Eads & Heald Wealth Management decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,068 shares of the company’s stock after selling 608 shares during the period. Eads & Heald Wealth Management’s holdings in PepsiCo were worth $2,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Campbell Wealth Management bought a new position in shares of PepsiCo during the 3rd quarter valued at about $322,000. Americana Partners LLC boosted its stake in PepsiCo by 3.7% in the third quarter. Americana Partners LLC now owns 51,898 shares of the company’s stock worth $8,825,000 after buying an additional 1,873 shares in the last quarter. Shepherd Financial Partners LLC grew its position in PepsiCo by 8.0% during the third quarter. Shepherd Financial Partners LLC now owns 7,927 shares of the company’s stock valued at $1,348,000 after acquiring an additional 584 shares during the last quarter. Absher Wealth Management LLC raised its stake in shares of PepsiCo by 3.7% during the third quarter. Absher Wealth Management LLC now owns 204,471 shares of the company’s stock worth $34,770,000 after acquiring an additional 7,268 shares in the last quarter. Finally, Pacific Sage Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $200,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEP. Bank of America decreased 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. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $165.59 on Friday. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The stock has a market capitalization of $227.19 billion, a P/E ratio of 24.42, a P/E/G ratio of 3.10 and a beta of 0.53. The company’s 50-day moving average is $173.03 and its 200 day moving average is $172.19. 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 posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 business earned $2.25 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current 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.