PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 168,915 shares of the company’s stock after selling 4,257 shares during the period. Mutual of America Capital Management LLC’s holdings in PepsiCo were worth $28,724,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the period. Swedbank AB grew its position in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. increased its position in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares during the period. Legal & General Group Plc increased its holdings in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of PepsiCo during the 3rd quarter worth about $151,749,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PEP shares. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

NASDAQ:PEP opened at $158.62 on Friday. The firm has a market capitalization of $217.63 billion, a PE ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53. The firm’s fifty day simple moving average is $170.82 and its 200 day simple moving average is $171.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. 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 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the company earned $2.25 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo 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.