LGT Capital Partners LTD. Sells 3,270 Shares of PepsiCo, Inc. (NASDAQ:PEP)

LGT Capital Partners LTD. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,421 shares of the company’s stock after selling 3,270 shares during the period. LGT Capital Partners LTD.’s holdings in PepsiCo were worth $12,655,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the third quarter worth approximately $28,000. POM Investment Strategies LLC grew its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new position in PepsiCo in the second quarter worth $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the second quarter worth $34,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PEP shares. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a 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 on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Down 0.2 %

Shares of PepsiCo stock opened at $158.33 on Tuesday. The firm has a market capitalization of $217.23 billion, a PE ratio of 23.35, a P/E/G ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $157.76 and a twelve month high of $183.41. The firm’s 50-day moving average price is $170.42 and its 200 day moving average price is $171.38. 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 issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $2.25 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.