PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,572 shares of the company’s stock after selling 129 shares during the period. PepsiCo comprises approximately 0.7% of Deseret Mutual Benefit Administrators’ holdings, making the stock its 25th largest position. Deseret Mutual Benefit Administrators’ holdings in PepsiCo were worth $1,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in 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 during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC increased its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo in the second quarter valued at $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $164.85 on Thursday. The firm has a market capitalization of $226.17 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. The company has a 50 day moving average price of $172.50 and a 200 day moving average price of $172.11. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PEP shares. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. One research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $183.92.

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.