CORDA Investment Management LLC. Has $45.49 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

CORDA Investment Management LLC. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the third quarter, Holdings Channel reports. The firm owned 267,533 shares of the company’s stock after selling 2,916 shares during the quarter. PepsiCo comprises about 3.5% of CORDA Investment Management LLC.’s portfolio, making the stock its 6th biggest holding. CORDA Investment Management LLC.’s holdings in PepsiCo were worth $45,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quent Capital LLC raised its stake in shares of PepsiCo by 6.5% in the first quarter. Quent Capital LLC now owns 7,066 shares of the company’s stock valued at $1,237,000 after acquiring an additional 431 shares during the last quarter. Mutual Advisors LLC raised its stake in shares of PepsiCo by 14.8% in the first quarter. Mutual Advisors LLC now owns 26,846 shares of the company’s stock valued at $4,698,000 after acquiring an additional 3,468 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its stake in shares of PepsiCo by 4.5% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,934 shares of the company’s stock valued at $1,389,000 after acquiring an additional 339 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of PepsiCo by 2.5% in the first quarter. Proficio Capital Partners LLC now owns 5,566 shares of the company’s stock valued at $974,000 after acquiring an additional 135 shares during the last quarter. Finally, RiverPark Advisors LLC raised its stake in shares of PepsiCo by 2.3% in the first quarter. RiverPark Advisors LLC now owns 5,355 shares of the company’s stock valued at $937,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PEP shares. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

Shares of PEP stock opened at $165.82 on Monday. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The firm has a market capitalization of $227.50 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 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 fifty day moving average of $173.03 and a 200-day moving average of $172.25.

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