Taurus Asset Management LLC Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Taurus Asset Management LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 12.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,283 shares of the company’s stock after selling 5,400 shares during the quarter. Taurus Asset Management LLC’s holdings in PepsiCo were worth $6,510,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Global Wealth Strategies & Associates raised its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the third quarter worth about $28,000. POM Investment Strategies LLC boosted its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEP. JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res raised shares of 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 on the stock in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

PEP opened at $158.62 on Monday. The company’s 50-day simple moving average is $170.82 and its two-hundred day simple moving average is $171.50. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The stock has a market capitalization of $217.63 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.96 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 earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 EPS. As a group, analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current 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.