River Road Asset Management LLC Has $10.22 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

River Road Asset Management LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.2% in the third quarter, Holdings Channel reports. The fund owned 60,087 shares of the company’s stock after selling 2,656 shares during the period. River Road Asset Management LLC’s holdings in PepsiCo were worth $10,218,000 at the end of the most recent reporting period.

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

PepsiCo Price Performance

Shares of PEP opened at $167.85 on Wednesday. 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 stock has a 50 day simple moving average of $172.69 and a 200 day simple moving average of $172.16. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The firm has a market capitalization of $230.29 billion, a PE ratio of 24.76, a P/E/G ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the firm earned $2.25 EPS. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada dropped their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One investment 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $183.92.

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.