Hollencrest Capital Management Sells 306 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hollencrest Capital Management cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,835 shares of the company’s stock after selling 306 shares during the period. Hollencrest Capital Management’s holdings in PepsiCo were worth $652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Meixler Investment Management Ltd. increased its stake in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares during the period. Opes Wealth Management LLC increased its stake in shares of PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Bank of Stockton raised its holdings in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC raised its holdings in shares of PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.8 %

Shares of PepsiCo stock traded up $1.25 on Friday, hitting $165.25. 834,074 shares of the company’s stock traded hands, compared to its average volume of 5,446,355. 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 current ratio of 0.89 and a quick ratio of 0.70. The company has a fifty day moving average of $172.50 and a two-hundred day moving average of $172.11. The company has a market capitalization of $226.72 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53.

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

Analysts Set New Price Targets

A number of research firms have recently commented on PEP. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.