PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 57,196 shares of the company’s stock after selling 1,504 shares during the period. Linscomb Wealth Inc.’s holdings in PepsiCo were worth $9,726,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC lifted its stake in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the second quarter valued at $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 2.5 %

PEP stock traded down $4.08 during trading on Friday, reaching $161.07. 1,803,241 shares of the stock traded hands, compared to its average volume of 5,433,168. 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 52-week low of $158.03 and a 52-week high of $183.41. The business’s 50 day moving average price is $171.19 and its 200-day moving average price is $171.68. The firm has a market capitalization of $220.99 billion, a PE ratio of 23.91, a P/E/G ratio of 3.07 and a beta of 0.53.

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

Analyst Ratings Changes

Several brokerages have commented on PEP. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Company 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.