PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Harvey Investment Co. LLC

Harvey Investment Co. LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,844 shares of the company’s stock after selling 125 shares during the quarter. PepsiCo makes up approximately 1.8% of Harvey Investment Co. LLC’s holdings, making the stock its 22nd largest holding. Harvey Investment Co. LLC’s holdings in PepsiCo were worth $15,958,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC grew its stake in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. Flossbach Von Storch AG grew its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. Swedbank AB increased its holdings in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. raised its position in shares of PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Finally, StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 0.2 %

Shares of NASDAQ:PEP opened at $173.23 on Thursday. The company has a 50 day moving average of $173.88 and a 200-day moving average of $172.23. 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 firm has a market cap of $237.67 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.26 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last released 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 during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal 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.