Pitcairn Co. Lowers Holdings in Pepsico, Inc. (PEP)

Pitcairn Co. cut its position in Pepsico, Inc. (NYSE:PEP) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,805 shares of the company’s stock after selling 128 shares during the quarter. Pitcairn Co.’s holdings in Pepsico were worth $785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Barnett & Company Inc. raised its stake in shares of Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock valued at $104,000 after purchasing an additional 657 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after purchasing an additional 165 shares during the period. Armbruster Capital Management Inc. raised its stake in shares of Pepsico by 21.6% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,782 shares of the company’s stock valued at $206,000 after purchasing an additional 317 shares during the period. Cabot Wealth Management Inc. bought a new stake in shares of Pepsico during the 2nd quarter valued at $207,000. Finally, Millie Capital Management LLC bought a new position in Pepsico in the 1st quarter worth about $202,000. Hedge funds and other institutional investors own 70.54% of the company’s stock.

Shares of Pepsico, Inc. (PEP) opened at $114.04 on Tuesday. The firm has a market capitalization of $160,346.61, a PE ratio of 22.02, a P/E/G ratio of 3.06 and a beta of 0.66. Pepsico, Inc. has a fifty-two week low of $98.50 and a fifty-two week high of $119.39. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32.

Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.05. The company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. Pepsico’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 EPS. equities analysts predict that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.

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In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

A number of equities analysts have weighed in on the company. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Royal Bank Of Canada restated a “hold” rating on shares of Pepsico in a research note on Sunday. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Tuesday, August 22nd. Susquehanna Bancshares Inc restated a “buy” rating and issued a $135.00 target price on shares of Pepsico in a research note on Monday, October 2nd. Finally, Jefferies Group LLC lowered Pepsico from a “buy” rating to a “hold” rating and decreased their target price for the stock from $133.00 to $108.00 in a research note on Monday, October 2nd. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Pepsico presently has a consensus rating of “Buy” and a consensus price target of $121.35.

About Pepsico

PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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