PepsiCo, Inc. (NASDAQ:PEP) Position Lessened by Legacy Bridge LLC

Legacy Bridge LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,611 shares of the company’s stock after selling 265 shares during the period. Legacy Bridge LLC’s holdings in PepsiCo were worth $784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares during the period. Swedbank AB increased its holdings in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the period. PineStone Asset Management Inc. raised its stake in shares of PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares in the last quarter. Legal & General Group Plc lifted its holdings in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in PepsiCo during the 3rd quarter valued at about $151,749,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research 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’s stock. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

PEP opened at $158.33 on Tuesday. The firm has a market capitalization of $217.23 billion, a P/E ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53. The stock has a fifty day moving average of $170.42 and a 200-day moving average of $171.38. 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 $157.76 and a 12-month high of $183.41.

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