M&G Plc Has $12.41 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

M&G Plc cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 82.9% in the third quarter, Holdings Channel reports. The firm owned 72,977 shares of the company’s stock after selling 353,292 shares during the quarter. M&G Plc’s holdings in PepsiCo were worth $12,406,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. Swedbank AB lifted its holdings in shares of PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. grew its position in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the period. Legal & General Group Plc raised its holdings in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in PepsiCo in the third quarter valued at approximately $151,749,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday. 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

NASDAQ:PEP opened at $164.00 on Friday. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The firm has a market capitalization of $225.01 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 3.10 and a beta of 0.53. The stock’s 50 day moving average price is $172.50 and its two-hundred day moving average price is $172.11. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the firm posted $2.25 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

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.