Pittenger & Anderson Inc. Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Pittenger & Anderson Inc. lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,454 shares of the company’s stock after selling 1,974 shares during the period. Pittenger & Anderson Inc.’s holdings in PepsiCo were worth $15,552,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC increased its holdings in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo during the 2nd quarter worth $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.5 %

NASDAQ:PEP opened at $166.34 on Tuesday. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $172.84 and a 200-day moving average price of $172.20. The stock has a market cap of $228.22 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share 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 business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the firm posted $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PEP. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Jefferies Financial Group decreased their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Company 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.