ING Groep NV Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

ING Groep NV cut its position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 10.7% in the third quarter, HoldingsChannel.com reports. The firm owned 551,240 shares of the company’s stock after selling 66,170 shares during the period. ING Groep NV’s holdings in PepsiCo were worth $93,738,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. TBH Global Asset Management LLC acquired a new position in shares of PepsiCo in the 1st quarter valued at $317,000. Leo Wealth LLC raised its stake in shares of PepsiCo by 13.6% in the first quarter. Leo Wealth LLC now owns 3,997 shares of the company’s stock worth $696,000 after purchasing an additional 480 shares during the last quarter. Trillium Asset Management LLC boosted its position in PepsiCo by 5.5% in the first quarter. Trillium Asset Management LLC now owns 3,370 shares of the company’s stock valued at $590,000 after buying an additional 177 shares during the last quarter. Brighton Jones LLC increased its holdings in PepsiCo by 5.2% in the 1st quarter. Brighton Jones LLC now owns 26,151 shares of the company’s stock worth $4,577,000 after buying an additional 1,298 shares during the period. Finally, Cumberland Partners Ltd lifted its stake in PepsiCo by 6.3% during the 1st quarter. Cumberland Partners Ltd now owns 13,342 shares of the company’s stock valued at $2,335,000 after acquiring an additional 792 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PEP shares. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $183.92.

Read Our Latest Analysis on PEP

PepsiCo Price Performance

Shares of PEP traded up $1.05 during trading hours on Thursday, hitting $165.79. 1,166,030 shares of the stock were exchanged, compared to its average volume of 5,430,036. The stock’s 50-day moving average price is $171.48 and its two-hundred day moving average price is $171.72. 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 company has a market cap of $227.46 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS 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 analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. During the same period in the prior year, the business earned $2.25 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Company Profile

(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.

Further Reading

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