Lodestar Private Asset Management LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Lodestar Private Asset Management LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the third quarter, HoldingsChannel reports. The fund owned 8,130 shares of the company’s stock after selling 107 shares during the period. Lodestar Private Asset Management LLC’s holdings in PepsiCo were worth $1,383,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norden Group LLC lifted its stake in shares of PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after purchasing an additional 174,171 shares during the period. M&G Plc boosted its stake in shares of PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares in the last quarter. OLD Second National Bank of Aurora grew its holdings in shares of PepsiCo by 32.7% in the 1st quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock worth $4,079,000 after acquiring an additional 5,737 shares during the period. Nisa Investment Advisors LLC increased its stake in PepsiCo by 0.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after purchasing an additional 2,976 shares in the last quarter. Finally, Viking Fund Management LLC raised its holdings in PepsiCo by 8.2% during the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock worth $11,223,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 1.4 %

Shares of PEP opened at $167.50 on Wednesday. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The company’s fifty day moving average is $173.61 and its two-hundred day moving average is $172.29. The firm has a market cap of $230.28 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered 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. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target 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.