Centennial Bank AR Sells 146 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Centennial Bank AR trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,940 shares of the company’s stock after selling 146 shares during the period. Centennial Bank AR’s holdings in PepsiCo were worth $840,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates lifted its position in shares of 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 buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC raised its position 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 last quarter. Summit Securities Group LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PepsiCo stock opened at $165.59 on Monday. The company’s fifty day moving average price is $173.03 and its 200 day moving average price is $172.25. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The stock has a market capitalization of $227.19 billion, a P/E ratio of 24.42, a P/E/G ratio of 3.09 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.