Cardinal Strategic Wealth Guidance Sells 300 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cardinal Strategic Wealth Guidance cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,442 shares of the company’s stock after selling 300 shares during the quarter. Cardinal Strategic Wealth Guidance’s holdings in PepsiCo were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Nordea Investment Management AB raised its holdings in shares of PepsiCo by 5.9% during the 1st quarter. Nordea Investment Management AB now owns 4,000,341 shares of the company’s stock valued at $701,780,000 after buying an additional 221,808 shares in the last quarter. Quent Capital LLC raised its stake in shares of PepsiCo by 6.5% during the first quarter. Quent Capital LLC now owns 7,066 shares of the company’s stock worth $1,237,000 after acquiring an additional 431 shares in the last quarter. Stack Financial Management Inc lifted its holdings in shares of PepsiCo by 0.3% in the 1st quarter. Stack Financial Management Inc now owns 119,139 shares of the company’s stock worth $20,851,000 after acquiring an additional 409 shares during the last quarter. Mathes Company Inc. boosted its stake in shares of PepsiCo by 0.5% in the 1st quarter. Mathes Company Inc. now owns 22,976 shares of the company’s stock valued at $4,021,000 after purchasing an additional 110 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of PepsiCo by 17.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 250,052 shares of the company’s stock valued at $43,761,000 after purchasing an additional 36,245 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.3 %

Shares of PEP opened at $165.59 on Friday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The firm has a market capitalization of $227.19 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.09 and a beta of 0.53. The firm’s 50-day moving average price is $173.03 and its 200-day moving average price is $172.23. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

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

Analysts Set New Price Targets

Several analysts have weighed in on PEP shares. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.