Birchcreek Wealth Management LLC Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Birchcreek Wealth Management LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,104 shares of the company’s stock after selling 300 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in PepsiCo were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. M&G Plc increased its position in PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after acquiring an additional 14,724 shares during the period. Pinnacle Financial Partners Inc increased its holdings in shares of PepsiCo by 3.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after buying an additional 4,547 shares during the last quarter. Fiduciary Family Office LLC boosted its position in PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after buying an additional 3,727 shares during the last quarter. GFS Advisors LLC lifted its position in shares of PepsiCo by 13,209.4% during the third quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock worth $12,290,000 after purchasing an additional 71,727 shares during the last quarter. Finally, Empower Advisory Group LLC raised its stake in PepsiCo by 4.6% during the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock worth $64,432,000 after acquiring an additional 16,523 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEP. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. Barclays decreased their price objective on shares of 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 for the company in a research note on Monday, September 30th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One research 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. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $183.92.

View Our Latest Report on PepsiCo

PepsiCo Trading Down 1.3 %

NASDAQ:PEP traded down $2.16 on Friday, hitting $162.99. 664,976 shares of the stock were exchanged, compared to its average volume of 5,428,041. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock has a fifty day moving average of $171.48 and a 200-day moving average of $171.72. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $223.62 billion, a PE ratio of 24.36, a PEG ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the firm earned $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

About PepsiCo

(Free Report)

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.

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