PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by VeraBank N.A.

VeraBank N.A. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,140 shares of the company’s stock after selling 310 shares during the quarter. VeraBank N.A.’s holdings in PepsiCo were worth $2,234,000 at the end of the most recent quarter.

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

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $1.11 during trading hours on Friday, reaching $165.11. The stock had a trading volume of 4,618,265 shares, compared to its average volume of 5,463,349. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The business’s fifty day moving average is $172.19 and its two-hundred day moving average is $171.97. The company has a market cap of $226.53 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company 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 business’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $2.25 earnings per share. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PEP shares. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. TD Cowen downgraded 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. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.