Amalgamated Bank Sells 4,321 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Amalgamated Bank lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 287,349 shares of the company’s stock after selling 4,321 shares during the period. Amalgamated Bank’s holdings in PepsiCo were worth $48,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. United Advisor Group LLC boosted its position in shares of PepsiCo by 25.5% during the 3rd quarter. United Advisor Group LLC now owns 2,625 shares of the company’s stock valued at $446,000 after purchasing an additional 534 shares in the last quarter. James J. Burns & Company LLC boosted its position in shares of PepsiCo by 4.4% during the 3rd quarter. James J. Burns & Company LLC now owns 2,006 shares of the company’s stock valued at $342,000 after purchasing an additional 84 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in shares of PepsiCo by 5.4% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 17,477 shares of the company’s stock valued at $2,972,000 after purchasing an additional 895 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of PepsiCo by 205.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,055 shares of the company’s stock valued at $690,000 after purchasing an additional 2,726 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its holdings in PepsiCo by 12.5% in the third quarter. Quintet Private Bank Europe S.A. now owns 29,396 shares of the company’s stock worth $4,999,000 after acquiring an additional 3,272 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $166.34 on Tuesday. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. 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 business’s fifty day simple moving average is $172.84 and its 200 day simple moving average is $172.20. The firm has a market capitalization of $228.22 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results 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. The firm 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 business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 earnings per share. As a group, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PEP shares. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, 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. One investment 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.com, the stock currently has an average rating of “Hold” and a consensus 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.