Garland Capital Management Inc. Sells 3,770 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Garland Capital Management Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.5% during the third quarter, Holdings Channel reports. The fund owned 29,140 shares of the company’s stock after selling 3,770 shares during the quarter. PepsiCo comprises about 3.8% of Garland Capital Management Inc.’s holdings, making the stock its 11th biggest holding. Garland Capital Management Inc.’s holdings in PepsiCo were worth $4,955,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEP. M&G Plc boosted its holdings in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares during the period. OLD Second National Bank of Aurora raised 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 in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of PepsiCo by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock worth $63,853,000 after purchasing an additional 2,976 shares during the period. Viking Fund Management LLC boosted its stake in shares of PepsiCo by 8.2% in 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 period. Finally, GAMMA Investing LLC grew its position in 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 buying an additional 6,813 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.3 %

Shares of PEP stock traded up $0.56 on Tuesday, hitting $166.90. The company had a trading volume of 444,491 shares, compared to its average volume of 5,442,093. The stock’s 50-day moving average is $172.84 and its two-hundred day moving average is $172.20. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $228.99 billion, a P/E ratio of 24.53, a P/E/G ratio of 3.09 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41.

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, 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 firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the business earned $2.25 EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PEP has been the topic of several analyst reports. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Finally, Barclays reduced their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.