Biechele Royce Advisors Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Biechele Royce Advisors lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,597 shares of the company’s stock after selling 72 shares during the quarter. Biechele Royce Advisors’ holdings in PepsiCo were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Mathes Company Inc. grew its position in shares of PepsiCo by 2.1% in the 3rd quarter. Mathes Company Inc. now owns 23,831 shares of the company’s stock worth $4,052,000 after buying an additional 500 shares during the last quarter. Silvant Capital Management LLC boosted its stake in PepsiCo by 18.0% in the third quarter. Silvant Capital Management LLC now owns 1,146 shares of the company’s stock valued at $195,000 after acquiring an additional 175 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in PepsiCo by 7.5% in the third quarter. Chicago Partners Investment Group LLC now owns 14,286 shares of the company’s stock worth $2,471,000 after purchasing an additional 997 shares during the last quarter. Phillips Wealth Planners LLC lifted its holdings in shares of PepsiCo by 45.9% during the 3rd quarter. Phillips Wealth Planners LLC now owns 4,383 shares of the company’s stock valued at $765,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of PepsiCo by 8.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 27,037 shares of the company’s stock worth $4,598,000 after purchasing an additional 2,153 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $0.49 during trading on Friday, hitting $165.59. 6,339,121 shares of the stock were exchanged, compared to its average volume of 5,464,888. The company has a market cap of $227.19 billion, a PE ratio of 24.42, a P/E/G ratio of 3.10 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. The company has a fifty day moving average price of $173.03 and a two-hundred day moving average price of $172.19. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.25 earnings per share. On average, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PEP. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Bank of America lowered their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.

About PepsiCo

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.