PepsiCo, Inc. (NASDAQ:PEP) Stock Position Trimmed by King Wealth Management Group

King Wealth Management Group lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 30,089 shares of the company’s stock after selling 2,127 shares during the quarter. PepsiCo accounts for about 0.8% of King Wealth Management Group’s investment portfolio, making the stock its 29th biggest position. King Wealth Management Group’s holdings in PepsiCo were worth $5,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PEP. Trillium Asset Management LLC lifted its stake in PepsiCo by 5.5% during the first quarter. Trillium Asset Management LLC now owns 3,370 shares of the company’s stock valued at $590,000 after purchasing an additional 177 shares during the last quarter. M&G Plc acquired a new stake in shares of PepsiCo during the 1st quarter valued at $72,020,000. Mizuho Markets Americas LLC lifted its stake in PepsiCo by 114.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 60,479 shares of the company’s stock worth $10,584,000 after acquiring an additional 32,236 shares in the last quarter. Councilmark Asset Management LLC acquired a new stake in PepsiCo during the 1st quarter worth about $754,000. Finally, Nicolet Advisory Services LLC grew its stake in PepsiCo by 1.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 40,851 shares of the company’s stock valued at $6,970,000 after acquiring an additional 428 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PEP. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.2 %

Shares of PEP opened at $165.15 on Friday. The business’s 50 day simple moving average is $171.48 and its 200-day simple moving average is $171.72. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a market capitalization of $226.58 billion, a P/E ratio of 24.36, a PEG ratio of 3.07 and a beta of 0.53. 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 (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 EPS. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.