PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Commonwealth Financial Services LLC

Commonwealth Financial Services LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,810 shares of the company’s stock after selling 162 shares during the period. Commonwealth Financial Services LLC’s holdings in PepsiCo were worth $653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Grimes & Company Inc. raised its position in PepsiCo by 19.7% in the third quarter. Grimes & Company Inc. now owns 71,654 shares of the company’s stock valued at $12,185,000 after purchasing an additional 11,797 shares during the period. Boyd Watterson Asset Management LLC OH grew its stake in shares of PepsiCo by 19.9% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 14,604 shares of the company’s stock valued at $2,483,000 after buying an additional 2,425 shares in the last quarter. Keene & Associates Inc. raised its holdings in shares of PepsiCo by 0.8% during the 3rd quarter. Keene & Associates Inc. now owns 19,097 shares of the company’s stock valued at $3,248,000 after buying an additional 156 shares during the period. Franklin Parlapiano Turner & Welch LLC boosted its holdings in PepsiCo by 1.5% in the 3rd quarter. Franklin Parlapiano Turner & Welch LLC now owns 44,326 shares of the company’s stock worth $7,538,000 after acquiring an additional 670 shares during the period. Finally, Cherry Creek Investment Advisors Inc. grew its position in PepsiCo by 2.3% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,396 shares of the company’s stock valued at $578,000 after acquiring an additional 77 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. 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. Deutsche Bank Aktiengesellschaft lowered their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock 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, eleven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $0.65 during trading hours on Thursday, reaching $172.30. The company’s stock had a trading volume of 301,510 shares, compared to its average volume of 5,455,604. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company’s 50 day simple moving average is $173.88 and its 200 day simple moving average is $172.23. The stock has a market cap of $236.39 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 3.26 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 company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.25 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.