Cornerstone Capital Inc. Sells 23,233 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Capital Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 16.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,824 shares of the company’s stock after selling 23,233 shares during the period. PepsiCo makes up 1.9% of Cornerstone Capital Inc.’s holdings, making the stock its 20th biggest holding. Cornerstone Capital Inc.’s holdings in PepsiCo were worth $20,206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEP. Meixler Investment Management Ltd. grew its position in shares of PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC increased its position in PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates lifted its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton lifted its stake in shares of PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC boosted its stake in PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $0.56 during trading hours on Tuesday, reaching $166.90. The stock had a trading volume of 444,491 shares, compared to its average volume of 5,442,093. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month 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. The company has a market cap of $228.99 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.09 and a beta of 0.53. The business’s fifty day moving average is $172.84 and its two-hundred day moving average is $172.20.

PepsiCo (NASDAQ:PEP) last released 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 business 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 for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 earnings per share. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. 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’s stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $183.92.

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.