Valley Wealth Managers Inc. Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Valley Wealth Managers Inc. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 21,294 shares of the company’s stock after selling 100 shares during the period. Valley Wealth Managers Inc.’s holdings in PepsiCo were worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Legal & General Group Plc boosted its holdings in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the period. Dimensional Fund Advisors LP raised its position in PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the period. Ameriprise Financial Inc. raised its position in PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the period. Finally, Bank of Montreal Can raised its position in PepsiCo by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after purchasing an additional 492,888 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced 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 reduced their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Down 1.9 %

Shares of PEP traded down $3.06 during mid-day trading on Friday, hitting $162.09. The company had a trading volume of 919,461 shares, compared to its average volume of 5,429,187. The stock has a market cap of $222.39 billion, a PE ratio of 23.91, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The business’s 50-day simple moving average is $171.19 and its 200-day simple moving average is $171.68.

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 net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

About PepsiCo

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.