KBC Group NV Sells 1,401,168 Shares of PepsiCo, Inc. (NASDAQ:PEP)

KBC Group NV decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 63.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 817,601 shares of the company’s stock after selling 1,401,168 shares during the period. KBC Group NV’s holdings in PepsiCo were worth $139,033,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Meixler Investment Management Ltd. lifted its position in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares in the last quarter. Opes Wealth Management LLC lifted its stake in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after acquiring an additional 59 shares in the last quarter. Global Wealth Strategies & Associates grew its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Bank of Stockton increased its holdings 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 purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC raised its position in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. TD Cowen cut 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 report on Thursday, October 10th. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

Shares of PEP opened at $164.74 on Thursday. The firm has a market capitalization of $226.02 billion, a PE ratio of 24.30, a P/E/G ratio of 3.06 and a beta of 0.53. 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 firm has a 50-day moving average price of $171.75 and a 200 day moving average price of $171.77. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for 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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business earned $2.25 earnings per share. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share 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.