Bank of Stockton Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bank of Stockton cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,511 shares of the company’s stock after selling 205 shares during the period. Bank of Stockton’s holdings in PepsiCo were worth $427,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Meixler Investment Management Ltd. boosted its holdings in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC lifted its position in PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares during the last quarter. Global Wealth Strategies & Associates increased 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 during the last quarter. Oxbow Advisors LLC raised its stake in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after acquiring an additional 60 shares during the period. Finally, Cross Staff Investments Inc boosted its stake in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Wells Fargo & Company decreased their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Jefferies Financial Group lowered their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One investment 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’s stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

Shares of PEP opened at $171.79 on Friday. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The stock has a fifty day moving average price of $173.87 and a 200-day moving average price of $172.23. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market cap of $236.17 billion, a PE ratio of 24.93, a P/E/G ratio of 3.25 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the company earned $2.25 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share 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.