Hengehold Capital Management LLC Sells 110 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hengehold Capital Management LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,180 shares of the company’s stock after selling 110 shares during the period. Hengehold Capital Management LLC’s holdings in PepsiCo were worth $2,767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Cibc Bank USA boosted its stake in PepsiCo by 0.8% in the third quarter. Cibc Bank USA now owns 29,200 shares of the company’s stock valued at $4,003,000 after acquiring an additional 227 shares in the last quarter. Patten Group Inc. boosted its stake in PepsiCo by 5.2% in the third quarter. Patten Group Inc. now owns 20,759 shares of the company’s stock valued at $2,846,000 after acquiring an additional 1,020 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in PepsiCo by 2.2% in the third quarter. Sequoia Financial Advisors LLC now owns 31,158 shares of the company’s stock valued at $4,272,000 after acquiring an additional 675 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in PepsiCo in the third quarter valued at approximately $72,000. Finally, Cascade Investment Advisors Inc. boosted its stake in PepsiCo by 12.6% in the third quarter. Cascade Investment Advisors Inc. now owns 3,030 shares of the company’s stock valued at $415,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.

Shares of PepsiCo stock traded up $0.34 during trading on Tuesday, hitting $136.46. 1,424,203 shares of the company’s stock were exchanged, compared to its average volume of 4,030,421. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.95. The business has a 50-day simple moving average of $136.66 and a 200-day simple moving average of $131.41. PepsiCo, Inc. has a 52-week low of $105.03 and a 52-week high of $140.45. The stock has a market capitalization of $189.99 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 3.54 and a beta of 0.56.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.06. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The firm had revenue of $17.19 billion during the quarter, compared to analysts’ expectations of $16.93 billion. During the same quarter last year, the company posted $1.59 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 5.5 earnings per share for the current fiscal year.

In related news, CEO Kirk Tanner sold 9,573 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the transaction, the chief executive officer now owns 105,350 shares of the company’s stock, valued at $13,500,602.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.

A number of research firms have issued reports on PEP. JPMorgan Chase & Co. set a $154.00 price target on shares of PepsiCo and gave the stock a “buy” rating in a report on Thursday, October 3rd. Jefferies Financial Group raised their price target on shares of PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. Morgan Stanley raised their price target on shares of PepsiCo from $149.00 to $154.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. BidaskClub cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $133.00 price target (up previously from $128.00) on shares of PepsiCo in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $135.53.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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