WFA Asset Management Corp Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

WFA Asset Management Corp lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,739 shares of the company’s stock after selling 229 shares during the quarter. WFA Asset Management Corp’s holdings in PepsiCo were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PEP. Meixler Investment Management Ltd. increased its stake in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares in the last quarter. Opes Wealth Management LLC increased its stake in PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares in the last quarter. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Bank of Stockton increased its stake in PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC increased its stake in PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.1 %

PEP opened at $165.82 on Monday. The stock has a market capitalization of $227.50 billion, a PE ratio of 24.42, a P/E/G ratio of 3.09 and a beta of 0.53. 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 business’s 50 day moving average price is $173.03 and its 200 day moving average price is $172.25.

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

Analyst Ratings Changes

PEP has been the subject of several research reports. Wells Fargo & Company cut their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo 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.