Axxcess Wealth Management LLC Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Axxcess Wealth Management LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,753 shares of the company’s stock after selling 6,874 shares during the quarter. Axxcess Wealth Management LLC’s holdings in PepsiCo were worth $12,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of PepsiCo by 14.6% during the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after acquiring an additional 492,888 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $165.11 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $226.53 billion, a P/E ratio of 24.35, a P/E/G ratio of 3.07 and a beta of 0.53. The firm’s fifty day moving average is $172.19 and its two-hundred day moving average is $171.97. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the firm posted $2.25 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Barclays lowered their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.