Invesco LLC Has $997,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Invesco LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22.7% during the third quarter, HoldingsChannel.com reports. The firm owned 5,861 shares of the company’s stock after selling 1,718 shares during the quarter. Invesco LLC’s holdings in PepsiCo were worth $997,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Meixler Investment Management Ltd. raised its holdings in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the period. Opes Wealth Management LLC raised its holdings in PepsiCo by 2.2% during the 2nd 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 period. Global Wealth Strategies & Associates raised its holdings in shares of 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 purchasing an additional 59 shares during the last quarter. Bank of Stockton raised its holdings in shares of PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC raised its holdings 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 purchasing an additional 60 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PEP shares. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, Bank of America lowered their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

PepsiCo stock traded down $0.49 during mid-day trading on Friday, hitting $165.59. 6,339,121 shares of the company’s stock traded hands, compared to its average volume of 5,464,888. The firm has a 50 day simple moving average of $173.03 and a two-hundred day simple moving average of $172.19. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock has a market cap of $227.19 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 3.10 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 firm posted $2.25 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts expect 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.