Pittenger & Anderson Inc. Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Pittenger & Anderson Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.1% in the third quarter, Holdings Channel.com reports. The firm owned 91,454 shares of the company’s stock after selling 1,974 shares during the period. Pittenger & Anderson Inc.’s holdings in PepsiCo were worth $15,552,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. TFB Advisors LLC bought a new position in PepsiCo in the 1st quarter worth about $398,000. Catalina Capital Group LLC bought a new position in shares of PepsiCo in the first quarter worth approximately $635,000. Carson Advisory Inc. grew its holdings in shares of PepsiCo by 1.4% during the first quarter. Carson Advisory Inc. now owns 6,511 shares of the company’s stock valued at $1,139,000 after buying an additional 91 shares during the last quarter. Richardson Financial Services Inc. increased its position in shares of PepsiCo by 5.4% during the first quarter. Richardson Financial Services Inc. now owns 4,612 shares of the company’s stock valued at $807,000 after acquiring an additional 237 shares in the last quarter. Finally, Csenge Advisory Group lifted its position in PepsiCo by 2.9% in the 1st quarter. Csenge Advisory Group now owns 20,784 shares of the company’s stock valued at $3,637,000 after acquiring an additional 582 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.5 %

NASDAQ PEP opened at $166.34 on Tuesday. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. 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 company has a market capitalization of $228.22 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The stock’s 50-day moving average price is $172.84 and its 200-day moving average price is $172.20.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 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 firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm earned $2.25 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on PEP shares. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $183.92.

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.