Taurus Asset Management LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Taurus Asset Management LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.4% during the third quarter, Holdings Channel.com reports. The firm owned 38,283 shares of the company’s stock after selling 5,400 shares during the quarter. Taurus Asset Management LLC’s holdings in PepsiCo were worth $6,510,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 4.0 %

Shares of NASDAQ PEP opened at $158.62 on Monday. The business’s 50 day moving average is $170.82 and its two-hundred day moving average is $171.50. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The stock has a market capitalization of $217.63 billion, a P/E ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current 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.