Grassi Investment Management Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Grassi Investment Management trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,200 shares of the company’s stock after selling 600 shares during the quarter. Grassi Investment Management’s holdings in PepsiCo were worth $6,326,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Brookstone Capital Management lifted its position in PepsiCo by 12.3% during the first quarter. Brookstone Capital Management now owns 34,648 shares of the company’s stock valued at $6,064,000 after purchasing an additional 3,794 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of PepsiCo by 25.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 20,963 shares of the company’s stock worth $3,669,000 after acquiring an additional 4,304 shares during the period. Signet Financial Management LLC raised its position in shares of PepsiCo by 2.2% in the first quarter. Signet Financial Management LLC now owns 8,650 shares of the company’s stock worth $1,514,000 after acquiring an additional 187 shares during the period. Thrive Wealth Management LLC raised its position in shares of PepsiCo by 18.8% in the first quarter. Thrive Wealth Management LLC now owns 4,713 shares of the company’s stock worth $825,000 after acquiring an additional 745 shares during the period. Finally, Edge Wealth Management LLC raised its position in shares of PepsiCo by 3.6% in the first quarter. Edge Wealth Management LLC now owns 3,150 shares of the company’s stock worth $551,000 after acquiring an additional 110 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.0 %

Shares of NASDAQ PEP opened at $172.90 on Thursday. The company has a 50-day moving average of $173.88 and a 200 day moving average of $172.23. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $237.22 billion, a PE ratio of 25.51, a P/E/G ratio of 3.26 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the company posted $2.25 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PEP has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Barclays cut their target price 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. Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus 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.