Savoir Faire Capital Management L.P. Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Savoir Faire Capital Management L.P. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 56.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,501 shares of the company’s stock after selling 22,856 shares during the period. Savoir Faire Capital Management L.P.’s holdings in PepsiCo were worth $2,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. Edgestream Partners L.P. boosted its holdings in shares of PepsiCo by 20.9% in the 1st quarter. Edgestream Partners L.P. now owns 4,605 shares of the company’s stock valued at $806,000 after buying an additional 796 shares during the period. Evermay Wealth Management LLC boosted its stake in PepsiCo by 0.7% during the 1st quarter. Evermay Wealth Management LLC now owns 11,166 shares of the company’s stock valued at $1,966,000 after purchasing an additional 83 shares during the period. Leelyn Smith LLC boosted its stake in PepsiCo by 18.9% during the 1st quarter. Leelyn Smith LLC now owns 15,780 shares of the company’s stock valued at $2,762,000 after purchasing an additional 2,505 shares during the period. Crewe Advisors LLC acquired a new position in PepsiCo during the 1st quarter valued at about $266,000. Finally, Payden & Rygel Investment Group acquired a new position in PepsiCo during the 1st quarter valued at about $15,016,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PEP shares. Royal Bank of Canada reduced their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. dropped their price target 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. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Bank of America dropped their price target 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

PepsiCo stock opened at $158.33 on Tuesday. The firm’s 50 day simple moving average is $170.42 and its 200-day simple moving average is $171.38. The company has a market cap of $217.23 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.96 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. PepsiCo, Inc. has a fifty-two week low of $157.76 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm posted $2.25 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS 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.