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

Convergence Financial LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 28.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,245 shares of the company’s stock after selling 1,298 shares during the period. Convergence Financial LLC’s holdings in PepsiCo were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC lifted its position in PepsiCo by 3.6% in the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares during the period. Norden Group LLC boosted its stake in shares of PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares in the last quarter. M&G Plc lifted its holdings in shares of PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares in the last quarter. OLD Second National Bank of Aurora raised its holdings in shares of PepsiCo by 32.7% during the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock worth $4,079,000 after acquiring an additional 5,737 shares in the last quarter. Finally, Koss Olinger Consulting LLC raised its holdings in shares of PepsiCo by 1,320.5% during the first quarter. Koss Olinger Consulting LLC now owns 33,425 shares of the company’s stock worth $5,850,000 after acquiring an additional 31,072 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

PEP opened at $171.79 on Friday. The company has a fifty day moving average price of $173.87 and a two-hundred day moving average price of $172.23. 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 52 week low of $158.03 and a 52 week high of $183.41. The firm has a market capitalization of $236.17 billion, a PE ratio of 24.93, a P/E/G ratio of 3.25 and a beta of 0.53.

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

Analysts Set New Price Targets

Several research firms have weighed in on PEP. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a 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 on the stock in a research report on Friday, October 4th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target 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 equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Company Profile

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.