Congress Asset Management Co. Has $539,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Congress Asset Management Co. trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 37.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,172 shares of the company’s stock after selling 1,939 shares during the period. Congress Asset Management Co.’s holdings in PepsiCo were worth $539,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter worth $28,000. POM Investment Strategies LLC grew its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new position in PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the second quarter valued at about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. 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 research note on Wednesday, July 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Down 0.3 %

NASDAQ PEP opened at $165.59 on Friday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. 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 stock’s 50 day moving average is $173.03 and its two-hundred day moving average is $172.19. The company has a market capitalization of $227.19 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.10 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced 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 firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

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.