PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by MAI Capital Management

MAI Capital Management lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,172 shares of the company’s stock after selling 8,568 shares during the quarter. MAI Capital Management’s holdings in PepsiCo were worth $46,793,000 as of its most recent filing with the Securities and Exchange Commission.

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

PepsiCo Trading Down 4.0 %

PepsiCo stock opened at $158.62 on Monday. The company has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53. The company’s fifty day moving average price is $170.82 and its two-hundred day moving average price is $171.50. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. 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 quarterly earnings data 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. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Barclays reduced their price objective 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. Bank of America reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. One equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $183.92.

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.