PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Bank of Marin

Bank of Marin decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,780 shares of the company’s stock after selling 410 shares during the quarter. Bank of Marin’s holdings in PepsiCo were worth $473,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent analyst reports. Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, 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 research note on Friday, July 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Down 1.9 %

Shares of NASDAQ PEP traded down $3.06 during mid-day trading on Friday, hitting $162.09. 941,675 shares of the company traded hands, compared to its average volume of 5,429,287. The business has a 50 day moving average of $171.19 and a two-hundred day moving average of $171.68. The stock has a market capitalization of $222.39 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. 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 (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the company posted $2.25 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side 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.