MAI Capital Management Sells 8,568 Shares of PepsiCo, Inc. (NASDAQ:PEP)

MAI Capital Management lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 275,172 shares of the company’s stock after selling 8,568 shares during the period. MAI Capital Management’s holdings in PepsiCo were worth $46,793,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Aljian Capital Management LLC acquired a new stake in shares of PepsiCo in the third quarter valued at $541,000. TrinityPoint Wealth LLC increased its position in PepsiCo by 1.3% in the 3rd quarter. TrinityPoint Wealth LLC now owns 15,499 shares of the company’s stock valued at $2,636,000 after acquiring an additional 204 shares in the last quarter. Claro Advisors LLC raised its stake in shares of PepsiCo by 5.9% in the third quarter. Claro Advisors LLC now owns 23,536 shares of the company’s stock worth $4,002,000 after acquiring an additional 1,319 shares during the last quarter. Concord Asset Management LLC VA grew its stake in shares of PepsiCo by 9.3% during the third quarter. Concord Asset Management LLC VA now owns 17,234 shares of the company’s stock valued at $2,931,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of PepsiCo in the third quarter valued at approximately $88,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. JPMorgan Chase & Co. cut their target price 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. Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of PEP opened at $158.62 on Monday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market capitalization of $217.63 billion, a PE ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. The stock has a 50 day simple moving average of $170.82 and a 200 day simple moving average of $171.50. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

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