PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 50.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,319 shares of the company’s stock after selling 3,364 shares during the period. Connecticut Wealth Management LLC’s holdings in PepsiCo were worth $455,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PEP. West Oak Capital LLC grew its holdings in PepsiCo by 0.5% during the 3rd quarter. West Oak Capital LLC now owns 15,230 shares of the company’s stock valued at $2,088,000 after purchasing an additional 75 shares in the last quarter. First Bank & Trust boosted its stake in PepsiCo by 0.5% during the 3rd quarter. First Bank & Trust now owns 14,552 shares of the company’s stock valued at $1,995,000 after acquiring an additional 75 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in PepsiCo by 2.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,126 shares of the company’s stock valued at $429,000 after acquiring an additional 76 shares during the last quarter. Stillwater Investment Management LLC boosted its stake in PepsiCo by 0.5% during the 3rd quarter. Stillwater Investment Management LLC now owns 15,219 shares of the company’s stock valued at $2,086,000 after acquiring an additional 79 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. boosted its stake in PepsiCo by 18.8% during the 2nd quarter. Stuart Chaussee & Associates Inc. now owns 505 shares of the company’s stock valued at $66,000 after acquiring an additional 80 shares during the last quarter. 71.66% of the stock is owned by institutional investors.

A number of research analysts have commented on the stock. Atlantic Securities assumed coverage on shares of PepsiCo in a research note on Monday, July 29th. They set an “overweight” rating and a $145.00 price objective on the stock. Cowen increased their price objective on shares of PepsiCo from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. UBS Group increased their price objective on shares of PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Bank of America increased their price objective on shares of PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, BidaskClub downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $135.53.

In related news, CEO Kirk Tanner sold 9,573 shares of PepsiCo stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the sale, the chief executive officer now directly owns 105,350 shares in the company, valued at approximately $13,500,602.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.

PepsiCo stock opened at $137.89 on Friday. The firm’s 50-day moving average is $136.66 and its 200-day moving average is $131.64. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.95. PepsiCo, Inc. has a 1 year low of $105.03 and a 1 year high of $140.45. The company has a market cap of $191.67 billion, a P/E ratio of 24.36, a PEG ratio of 3.57 and a beta of 0.56.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.06. The company had revenue of $17.19 billion for the quarter, compared to the consensus estimate of $16.93 billion. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.59 EPS. As a group, sell-side analysts predict that PepsiCo, Inc. will post 5.5 earnings per share for the current year.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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