Sunburst Financial Group LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Sunburst Financial Group LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.2% in the 3rd quarter, Holdings Channel reports. The fund owned 5,824 shares of the company’s stock after selling 523 shares during the quarter. Sunburst Financial Group LLC’s holdings in PepsiCo were worth $990,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares during the period. Flossbach Von Storch AG increased its position in 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 buying an additional 1,832,385 shares in the last quarter. Swedbank AB grew its stake in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in shares of PepsiCo by 125.2% during 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 last quarter. Finally, Van ECK Associates Corp boosted its position in PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP traded down $0.13 during midday trading on Wednesday, reaching $167.37. The company’s stock had a trading volume of 930,554 shares, compared to its average volume of 5,445,170. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a 50 day moving average price of $173.61 and a 200 day moving average price of $172.29. The company has a market cap of $230.10 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53. 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 released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 EPS. On average, equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PEP shares. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Bank of America lowered their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One 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. According to data from MarketBeat.com, the company currently has an average 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.