DekaBank Deutsche Girozentrale Sells 49,713 Shares of PepsiCo, Inc. (NASDAQ:PEP)

DekaBank Deutsche Girozentrale trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,757,161 shares of the company’s stock after selling 49,713 shares during the quarter. PepsiCo comprises about 0.9% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 19th biggest holding. DekaBank Deutsche Girozentrale’s holdings in PepsiCo were worth $467,701,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PEP. Hennion & Walsh Asset Management Inc. boosted its stake in PepsiCo by 0.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,113 shares of the company’s stock worth $2,470,000 after purchasing an additional 128 shares in the last quarter. Vicus Capital grew its holdings in shares of PepsiCo by 28.9% during the first quarter. Vicus Capital now owns 3,576 shares of the company’s stock valued at $626,000 after buying an additional 802 shares during the last quarter. CRA Financial Services LLC increased its position in shares of PepsiCo by 4.8% during the first quarter. CRA Financial Services LLC now owns 8,154 shares of the company’s stock valued at $1,427,000 after acquiring an additional 372 shares in the last quarter. Brown Miller Wealth Management LLC raised its holdings in PepsiCo by 25.7% in the 1st quarter. Brown Miller Wealth Management LLC now owns 6,865 shares of the company’s stock worth $1,201,000 after acquiring an additional 1,404 shares during the last quarter. Finally, Foguth Wealth Management LLC. bought a new position in PepsiCo in the 1st quarter valued at approximately $340,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PEP. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. Finally, Jefferies Financial Group cut their target price 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company 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 52 week low of $158.03 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market cap of $236.17 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 3.25 and a beta of 0.53. The business has a 50-day simple moving average of $173.86 and a two-hundred day simple moving average of $172.26.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company 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 was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $2.25 EPS. On average, analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current 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.