PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Hixon Zuercher LLC

Hixon Zuercher LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 28,137 shares of the company’s stock after selling 599 shares during the quarter. PepsiCo comprises approximately 1.9% of Hixon Zuercher LLC’s holdings, making the stock its 19th biggest position. Hixon Zuercher LLC’s holdings in PepsiCo were worth $4,785,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Legal & General Group Plc grew its position in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after buying an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG lifted its holdings in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. 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. Jefferies Financial Group decreased their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research report on Friday, July 19th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.9 %

PEP stock opened at $167.85 on Wednesday. The firm has a market cap of $230.29 billion, a PE ratio of 24.76, a PEG ratio of 3.09 and a beta of 0.53. 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 quick ratio of 0.70 and a current ratio of 0.89. The firm’s 50 day moving average price is $172.69 and its 200-day moving average price is $172.16.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

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.