PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.9% during the third quarter, Holdings Channel reports. The institutional investor owned 2,166,715 shares of the company’s stock after selling 321,644 shares during the period. PepsiCo makes up about 3.8% of Yacktman Asset Management LP’s holdings, making the stock its 5th largest position. Yacktman Asset Management LP’s holdings in PepsiCo were worth $368,450,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PEP. Meixler Investment Management Ltd. boosted its stake in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares in the last quarter. Opes Wealth Management LLC grew its holdings in PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after acquiring an additional 59 shares during the period. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Bank of Stockton lifted its holdings in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after acquiring an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC boosted its position in shares of PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.5 %

PEP stock opened at $166.34 on Tuesday. The company has a 50 day moving average of $172.84 and a two-hundred day moving average of $172.20. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The company has a market cap of $228.22 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS 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 firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PEP shares. Bank of America cut their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.