PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Belmont Capital LLC

Belmont Capital LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 72.5% during the third quarter, HoldingsChannel.com reports. The fund owned 2,193 shares of the company’s stock after selling 5,770 shares during the period. Belmont Capital LLC’s holdings in PepsiCo were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC increased its holdings in shares of PepsiCo by 141.3% during the second 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 period. Summit Securities Group LLC acquired a new stake in PepsiCo in the second quarter worth about $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock opened at $158.33 on Tuesday. PepsiCo, Inc. has a 52 week low of $157.76 and a 52 week high of $183.41. The firm has a market cap of $217.23 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.96 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. The business’s fifty day moving average is $170.42 and its two-hundred day moving average is $171.38.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the firm earned $2.25 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $183.92.

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.