FormulaFolio Investments LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 14.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,808 shares of the company’s stock after selling 1,297 shares during the period. FormulaFolio Investments LLC’s holdings in PepsiCo were worth $1,082,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in PEP. Vanguard Group Inc. increased its position in shares of PepsiCo by 6.0% during the second quarter. Vanguard Group Inc. now owns 124,559,499 shares of the company’s stock valued at $16,474,240,000 after buying an additional 7,075,509 shares during the period. Nordea Investment Management AB increased its position in shares of PepsiCo by 161.6% during the second quarter. Nordea Investment Management AB now owns 5,935,150 shares of the company’s stock valued at $781,896,000 after buying an additional 3,666,099 shares during the period. Capital International Investors purchased a new position in shares of PepsiCo during the first quarter worth about $227,508,000. Two Sigma Advisers LP grew its holdings in shares of PepsiCo by 211.7% during the second quarter. Two Sigma Advisers LP now owns 2,133,685 shares of the company’s stock worth $282,201,000 after purchasing an additional 1,449,200 shares in the last quarter. Finally, Advisor Group Holdings Inc. purchased a new position in shares of PepsiCo during the first quarter worth about $55,808,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.
Shares of PEP stock opened at $141.73 on Friday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.79 and a current ratio of 0.97. PepsiCo, Inc. has a fifty-two week low of $101.42 and a fifty-two week high of $147.20. The stock has a 50 day moving average price of $137.07 and a two-hundred day moving average price of $134.07. The company has a market capitalization of $195.86 billion, a P/E ratio of 28.98, a PEG ratio of 4.53 and a beta of 0.56.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, October 1st. The company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.17. PepsiCo had a return on equity of 54.77% and a net margin of 10.13%. The firm had revenue of $18.09 billion during the quarter, compared to the consensus estimate of $17.24 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts predict that PepsiCo, Inc. will post 5.34 earnings per share for the current year.
Several research analysts have recently commented on the company. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $148.00 to $169.00 in a report on Monday, October 12th. BidaskClub lowered PepsiCo from a “hold” rating to a “sell” rating in a report on Friday, October 9th. SunTrust Banks boosted their price objective on PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price objective for the company. in a report on Friday, September 18th. Finally, Morgan Stanley boosted their price objective on PepsiCo from $155.00 to $158.00 and gave the stock an “overweight” rating in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. PepsiCo currently has an average rating of “Buy” and an average price target of $144.13.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
Featured Article: What is the Consumer Price Index (CPI)?
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.