Ballast Advisors LLC Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Ballast Advisors LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,408 shares of the company’s stock after selling 205 shares during the period. Ballast Advisors LLC’s holdings in PepsiCo were worth $1,260,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Harvest Portfolios Group Inc. lifted its position in PepsiCo by 3.3% in the third quarter. Harvest Portfolios Group Inc. now owns 102,449 shares of the company’s stock valued at $17,421,000 after purchasing an additional 3,301 shares during the last quarter. Radnor Capital Management LLC purchased a new position in shares of PepsiCo in the third quarter worth $3,358,000. Callahan Advisors LLC raised its holdings in PepsiCo by 1.8% during the 3rd quarter. Callahan Advisors LLC now owns 89,332 shares of the company’s stock valued at $15,191,000 after buying an additional 1,558 shares during the last quarter. Wisconsin Capital Management LLC boosted its position in PepsiCo by 2.7% during the 3rd quarter. Wisconsin Capital Management LLC now owns 13,360 shares of the company’s stock valued at $2,272,000 after buying an additional 350 shares during the period. Finally, Balentine LLC grew its holdings in PepsiCo by 34.3% in the 3rd quarter. Balentine LLC now owns 9,384 shares of the company’s stock worth $1,596,000 after acquiring an additional 2,399 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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. JPMorgan Chase & Co. dropped their price objective 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 PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of PEP opened at $165.66 on Wednesday. The firm’s 50-day simple moving average is $172.69 and its two-hundred day simple moving average is $172.16. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock has a market cap of $227.28 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating 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 company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the company earned $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share 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.