PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 95,691 shares of the company’s stock after selling 7,908 shares during the period. Kentucky Retirement Systems’ holdings in PepsiCo were worth $16,272,000 as of its most recent SEC filing.

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

PepsiCo Trading Down 4.0 %

Shares of NASDAQ PEP opened at $158.62 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. The stock has a market capitalization of $217.63 billion, a PE ratio of 23.40, a PEG ratio of 3.07 and a beta of 0.53. The stock has a fifty day simple moving average of $170.82 and a 200-day simple moving average of $171.56. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41.

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

Analyst Ratings Changes

PEP has been the subject of a number of recent research reports. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Barclays reduced 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. Bank of America cut their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo 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.