Canoe Financial LP Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Canoe Financial LP trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 95,367 shares of the company’s stock after selling 3,100 shares during the period. Canoe Financial LP’s holdings in PepsiCo were worth $16,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc lifted its holdings in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the period. Ameriprise Financial Inc. lifted its holdings in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG lifted its holdings in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.2 %

PEP opened at $171.79 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock has a market capitalization of $236.17 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 3.25 and a beta of 0.53. The business has a 50-day moving average of $173.86 and a two-hundred day moving average of $172.28. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during 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 firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.25 EPS. On average, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on PEP shares. Royal Bank of Canada cut their price target 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. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” 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 research note on Thursday, October 10th. Finally, Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.