Empire Life Investments Inc. Sells 30,596 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Empire Life Investments Inc. decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 22.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,566 shares of the company’s stock after selling 30,596 shares during the quarter. Empire Life Investments Inc.’s holdings in PepsiCo were worth $18,462,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PEP. International Assets Investment Management LLC increased its holdings in PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. Flossbach Von Storch AG increased its stake in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Swedbank AB raised its position in shares of PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the period. PineStone Asset Management Inc. boosted its holdings in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after buying an additional 1,523,631 shares during the period. Finally, Legal & General Group Plc increased its stake in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 0.3 %

Shares of PEP stock opened at $165.59 on Friday. The company has a market cap of $227.19 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. 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’s 50 day simple moving average is $173.03 and its two-hundred day simple moving average is $172.23. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly 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 return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the company earned $2.25 earnings per share. PepsiCo’s revenue was down .6% on a year-over-year basis. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective 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 dropped their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One research 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. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average 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.