Mizuho Markets Americas LLC Sells 95,920 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mizuho Markets Americas LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 73.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,487 shares of the company’s stock after selling 95,920 shares during the quarter. Mizuho Markets Americas LLC’s holdings in PepsiCo were worth $5,865,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PEP. Coastline Trust Co increased its stake in shares of PepsiCo by 1.4% during the 3rd quarter. Coastline Trust Co now owns 22,531 shares of the company’s stock worth $3,831,000 after purchasing an additional 312 shares during the last quarter. Northcape Wealth Management LLC increased its position in PepsiCo by 0.5% during the third quarter. Northcape Wealth Management LLC now owns 34,118 shares of the company’s stock worth $5,802,000 after buying an additional 170 shares during the last quarter. Altrius Capital Management Inc raised its stake in PepsiCo by 5.2% in the third quarter. Altrius Capital Management Inc now owns 24,883 shares of the company’s stock valued at $4,232,000 after buying an additional 1,219 shares during the period. Insight 2811 Inc. lifted its position in shares of PepsiCo by 10.5% in the third quarter. Insight 2811 Inc. now owns 2,106 shares of the company’s stock valued at $358,000 after buying an additional 200 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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 report on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

Shares of PEP opened at $158.62 on Friday. The stock has a market cap of $217.63 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. The business’s fifty day moving average is $170.82 and its 200 day moving average is $171.53. 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 $158.03 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm 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 earned $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. 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.