First Long Island Investors LLC Has $16.39 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

First Long Island Investors LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,377 shares of the company’s stock after selling 744 shares during the quarter. First Long Island Investors LLC’s holdings in PepsiCo were worth $16,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Legal & General Group Plc increased its position in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares during the period. Dimensional Fund Advisors LP grew its position in shares of PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the period. Finally, Bank of Montreal Can raised its position in shares of PepsiCo by 14.6% in the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock valued at $676,036,000 after buying an additional 492,888 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 2.7 %

Shares of PepsiCo stock traded down $4.45 on Friday, hitting $160.70. The company had a trading volume of 1,996,317 shares, compared to its average volume of 5,434,038. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a 50 day moving average of $171.19 and a 200-day moving average of $171.68. The stock has a market capitalization of $220.48 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the business earned $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PEP. Royal Bank of Canada decreased 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. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Barclays decreased their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.