Van ECK Associates Corp Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Van ECK Associates Corp reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 75.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 369,070 shares of the company’s stock after selling 1,123,531 shares during the quarter. Van ECK Associates Corp’s holdings in PepsiCo were worth $63,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&G Plc lifted its position in shares of PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after acquiring an additional 14,724 shares in the last quarter. OLD Second National Bank of Aurora boosted its stake in 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 purchasing an additional 5,737 shares during the period. Nisa Investment Advisors LLC grew its holdings in PepsiCo by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after buying an additional 2,976 shares in the last quarter. Viking Fund Management LLC raised its position in shares of PepsiCo by 8.2% during the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock valued at $11,223,000 after buying an additional 5,000 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of PepsiCo by 50.0% during the second quarter. GAMMA Investing LLC now owns 20,448 shares of the company’s stock worth $3,372,000 after acquiring an additional 6,813 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of several research analyst reports. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Wells Fargo & Company decreased their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. One investment 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. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ PEP opened at $165.59 on Monday. The company has a market cap of $227.19 billion, a P/E ratio of 24.42, a PEG ratio of 3.09 and a beta of 0.53. The firm has a 50-day simple moving average of $173.03 and a two-hundred day simple moving average of $172.25. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. 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 (NASDAQ:PEP) last posted its quarterly earnings data 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. 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 analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 EPS. PepsiCo’s revenue was down .6% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share 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.