Benedict Financial Advisors Inc. Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Benedict Financial Advisors Inc. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.4% during the third quarter, Holdings Channel reports. The fund owned 15,527 shares of the company’s stock after selling 541 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in PepsiCo were worth $2,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its stake in PepsiCo by 7.2% in 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 last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the period. Dimensional Fund Advisors LP raised its holdings in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares during the period. Ameriprise Financial Inc. lifted its position in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG lifted its holdings in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.2 %

NASDAQ PEP opened at $171.79 on Friday. 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, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The firm’s fifty day simple moving average is $173.86 and its 200-day simple moving average is $172.26. The company has a market capitalization of $236.17 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.25 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $2.25 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on PEP shares. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $183.92.

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.