King Wealth Management Group Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

King Wealth Management Group lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,089 shares of the company’s stock after selling 2,127 shares during the period. PepsiCo makes up approximately 0.8% of King Wealth Management Group’s holdings, making the stock its 29th largest holding. King Wealth Management Group’s holdings in PepsiCo were worth $5,117,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PEP. M&G Plc boosted its holdings in PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after acquiring an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after buying an additional 4,547 shares during the period. Fiduciary Family Office LLC grew its holdings in shares of PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after acquiring an additional 3,727 shares during the period. GFS Advisors LLC raised its position in shares of PepsiCo by 13,209.4% in the 3rd quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock worth $12,290,000 after acquiring an additional 71,727 shares in the last quarter. Finally, WoodTrust Financial Corp boosted its position in shares of PepsiCo by 5.7% during the third quarter. WoodTrust Financial Corp now owns 64,341 shares of the company’s stock valued at $10,941,000 after purchasing an additional 3,465 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PEP shares. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.2 %

PEP opened at $165.15 on Friday. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The business has a 50-day moving average of $171.48 and a two-hundred day moving average of $171.72. 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 stock has a market capitalization of $226.58 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 EPS. On average, research analysts expect 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.