Planning Directions Inc. Sells 702 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Planning Directions Inc. reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,219 shares of the company’s stock after selling 702 shares during the quarter. Planning Directions Inc.’s holdings in PepsiCo were worth $377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after buying an additional 3,201,676 shares in the last quarter. Swedbank AB lifted its stake 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 buying an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. increased its stake in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after buying an additional 1,523,631 shares in the last quarter. Legal & General Group Plc raised its holdings in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of PepsiCo in the third quarter valued at about $151,749,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEP. Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating 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 issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

PepsiCo stock opened at $158.62 on Monday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company’s 50-day moving average is $170.82 and its 200 day moving average is $171.50. The firm has a market capitalization of $217.63 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 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 company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company posted $2.25 EPS. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.15 EPS 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.