PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by First Interstate Bank

First Interstate Bank reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,983 shares of the company’s stock after selling 517 shares during the quarter. First Interstate Bank’s holdings in PepsiCo were worth $4,418,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% in 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. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC raised 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 buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the second quarter valued at about $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Down 0.3 %

Shares of NASDAQ PEP traded down $0.49 during midday trading on Friday, reaching $165.59. 6,339,121 shares of the stock were exchanged, compared to its average volume of 5,464,888. The stock has a 50 day moving average price of $173.03 and a 200-day moving average price of $172.19. 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 company 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. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

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

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.