Clarkston Capital Partners LLC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Clarkston Capital Partners LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,955 shares of the company’s stock after selling 469 shares during the period. Clarkston Capital Partners LLC’s holdings in PepsiCo were worth $30,771,000 as of its most recent SEC filing.

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

PepsiCo Price Performance

NASDAQ:PEP opened at $158.62 on Monday. The stock has a market capitalization of $217.63 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock’s 50-day moving average price is $170.82 and its 200-day moving average price is $171.50.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $23.86 billion. During the same period in the previous year, the business earned $2.25 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. 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. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus 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.