Baxter Bros Inc. Sells 164 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Baxter Bros Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,970 shares of the company’s stock after selling 164 shares during the quarter. Baxter Bros Inc.’s holdings in PepsiCo were worth $3,566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&G Plc increased its holdings in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares during the period. OLD Second National Bank of Aurora lifted its position in shares of PepsiCo by 32.7% during the 1st quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock valued at $4,079,000 after acquiring an additional 5,737 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of PepsiCo by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock worth $63,853,000 after purchasing an additional 2,976 shares in the last quarter. Viking Fund Management LLC raised its stake in PepsiCo by 8.2% in the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock valued at $11,223,000 after purchasing an additional 5,000 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in PepsiCo by 50.0% during the second quarter. GAMMA Investing LLC now owns 20,448 shares of the company’s stock worth $3,372,000 after buying an additional 6,813 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $165.59 on Friday. The company has a market capitalization of $227.19 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The business has a 50-day moving average of $173.03 and a 200-day moving average of $172.23. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41.

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

Analysts Set New Price Targets

Several research analysts have commented on PEP shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Jefferies Financial Group decreased their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.