Miramar Capital LLC Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Miramar Capital LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 118,121 shares of the company’s stock after selling 968 shares during the quarter. PepsiCo makes up 4.7% of Miramar Capital LLC’s investment portfolio, making the stock its 3rd largest position. Miramar Capital LLC’s holdings in PepsiCo were worth $20,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coastline Trust Co raised its holdings in shares of PepsiCo by 1.4% in the 3rd quarter. Coastline Trust Co now owns 22,531 shares of the company’s stock valued at $3,831,000 after acquiring an additional 312 shares in the last quarter. Northcape Wealth Management LLC lifted its position in PepsiCo by 0.5% during the third quarter. Northcape Wealth Management LLC now owns 34,118 shares of the company’s stock valued at $5,802,000 after purchasing an additional 170 shares during the last quarter. Altrius Capital Management Inc increased its holdings in shares of PepsiCo by 5.2% in the 3rd quarter. Altrius Capital Management Inc now owns 24,883 shares of the company’s stock worth $4,232,000 after buying an additional 1,219 shares during the last quarter. Insight 2811 Inc. increased its stake in PepsiCo by 10.5% in the third quarter. Insight 2811 Inc. now owns 2,106 shares of the company’s stock valued at $358,000 after acquiring an additional 200 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 4.0 %

PepsiCo stock opened at $158.62 on Friday. 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. The business’s fifty day simple moving average is $170.82 and its two-hundred day simple moving average is $171.56. The company has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

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

Analysts Set New Price Targets

PEP has been the subject of a number of recent research reports. Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Finally, Barclays cut their price target on shares of 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 assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

View Our Latest Stock Analysis on PepsiCo

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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