Spirit of America Management Corp NY Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

Spirit of America Management Corp NY lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,200 shares of the company’s stock after selling 200 shares during the period. Spirit of America Management Corp NY’s holdings in PepsiCo were worth $374,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PEP. DT Investment Partners LLC boosted its position in shares of PepsiCo by 1.9% in the third quarter. DT Investment Partners LLC now owns 4,916 shares of the company’s stock worth $836,000 after acquiring an additional 92 shares during the last quarter. Valicenti Advisory Services Inc. boosted its holdings in PepsiCo by 18.4% in the third quarter. Valicenti Advisory Services Inc. now owns 46,218 shares of the company’s stock valued at $7,859,000 after acquiring an additional 7,180 shares during the last quarter. Mcdaniel Terry & Co. grew its position in PepsiCo by 1.7% during the third quarter. Mcdaniel Terry & Co. now owns 173,693 shares of the company’s stock valued at $29,536,000 after acquiring an additional 2,827 shares during the period. IFM Investors Pty Ltd increased its stake in PepsiCo by 0.6% during the third quarter. IFM Investors Pty Ltd now owns 277,359 shares of the company’s stock worth $47,165,000 after acquiring an additional 1,603 shares during the last quarter. Finally, Bogart Wealth LLC raised its holdings in shares of PepsiCo by 10.4% in the 3rd quarter. Bogart Wealth LLC now owns 65,120 shares of the company’s stock worth $11,074,000 after purchasing an additional 6,111 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.5 %

Shares of NASDAQ:PEP opened at $172.16 on Friday. 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 company’s 50-day moving average price is $173.88 and its 200 day moving average price is $172.23. The company has a market cap of $236.68 billion, a PE ratio of 24.99, a P/E/G ratio of 3.25 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $23.86 billion. During the same period in the prior year, the company posted $2.25 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. TD Cowen downgraded 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. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo 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.