Oppenheimer Asset Management Inc. Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Oppenheimer Asset Management Inc. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 71,340 shares of the company’s stock after selling 5,478 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PepsiCo were worth $12,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEP. M&G Plc lifted its position in PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the period. Fiduciary Family Office LLC lifted its position in PepsiCo by 119.6% in the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after purchasing an additional 3,727 shares during the period. GFS Advisors LLC lifted its position in PepsiCo by 13,209.4% in the third quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock valued at $12,290,000 after purchasing an additional 71,727 shares during the period. WoodTrust Financial Corp lifted its position in PepsiCo by 5.7% in the third quarter. WoodTrust Financial Corp now owns 64,341 shares of the company’s stock valued at $10,941,000 after purchasing an additional 3,465 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in PepsiCo by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after purchasing an additional 2,976 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. One equities 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 0.2 %

Shares of PepsiCo stock opened at $164.74 on Thursday. The company has a market capitalization of $226.02 billion, a P/E ratio of 24.30, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The business has a 50 day moving average price of $171.75 and a 200 day moving average price of $171.77.

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

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.