Planning Directions Inc. Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Planning Directions Inc. decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 24.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,219 shares of the company’s stock after selling 702 shares during the quarter. Planning Directions Inc.’s holdings in PepsiCo were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PEP. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in 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 acquired a new stake in shares of PepsiCo in the 3rd quarter worth $28,000. POM Investment Strategies LLC increased its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo in the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo in the second quarter worth about $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Bank of America reduced their price target 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. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

Shares of PEP stock opened at $158.62 on Monday. The company has a market capitalization of $217.63 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The business’s 50 day moving average is $170.82 and its two-hundred day moving average is $171.50. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its quarterly 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 firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 EPS. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.