Schulhoff & Co. Inc. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 22,098 shares of the company’s stock after selling 96 shares during the quarter. PepsiCo comprises 1.6% of Schulhoff & Co. Inc.’s portfolio, making the stock its 17th largest holding. Schulhoff & Co. Inc.’s holdings in PepsiCo were worth $3,758,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Global Wealth Strategies & Associates increased its position in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the 3rd quarter worth about $28,000. POM Investment Strategies LLC lifted its position 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 during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter valued at about $30,000. Finally, Rakuten Securities Inc. grew its position in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on PEP shares. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One research 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. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $183.92.
PepsiCo Stock Performance
Shares of NASDAQ PEP opened at $164.74 on Thursday. The stock’s fifty day simple moving average is $171.48 and its 200 day simple moving average is $171.72. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $226.02 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.06 and a beta of 0.53.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly 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 business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 earnings per share. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share 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.
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