PepsiCo, Inc. (NASDAQ:PEP) Stock Holdings Cut by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 1,263,391 shares of the company’s stock after selling 46,005 shares during the period. New York State Teachers Retirement System’s holdings in PepsiCo were worth $214,840,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEP. Meixler Investment Management Ltd. raised its position in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC grew its position in PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares in the last quarter. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Bank of Stockton lifted its position in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC grew its holdings in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock traded down $0.66 during trading hours on Wednesday, reaching $166.84. The stock had a trading volume of 339,739 shares, compared to its average volume of 5,442,356. The stock’s fifty day simple moving average is $173.61 and its 200 day simple moving average is $172.29. The firm has a market capitalization of $229.37 billion, a PE ratio of 24.31, a PEG ratio of 3.20 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 firm 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 firm earned $2.25 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PEP shares. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $183.92.

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.