Linscomb Wealth Inc. Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Linscomb Wealth Inc. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,196 shares of the company’s stock after selling 1,504 shares during the period. Linscomb Wealth Inc.’s holdings in PepsiCo were worth $9,726,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC boosted its stake in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo in the second quarter worth about $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 2.5 %

PEP stock traded down $4.08 during trading on Friday, hitting $161.07. 1,803,241 shares of the company’s stock traded hands, compared to its average volume of 5,433,168. The business has a fifty day simple moving average of $171.19 and a two-hundred day simple moving average of $171.68. 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 firm has a market capitalization of $220.99 billion, a P/E ratio of 23.91, a PEG ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year 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 for the quarter, topping analysts’ consensus estimates 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 return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 EPS. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PEP shares. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a research note 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.