RiverPark Advisors LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

RiverPark Advisors LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,990 shares of the company’s stock after selling 332 shares during the quarter. RiverPark Advisors LLC’s holdings in PepsiCo were worth $849,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% during the 3rd 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 purchased a new position in shares of PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Rakuten Securities Inc. grew its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PEP. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One 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, the company currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Down 4.0 %

Shares of NASDAQ:PEP opened at $158.62 on Friday. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The stock has a fifty day simple moving average of $170.82 and a two-hundred day simple moving average of $171.53. 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 stock has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53.

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

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.