Winthrop Advisory Group LLC Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Markets Daily

Winthrop Advisory Group LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,904 shares of the company’s stock after selling 82 shares during the quarter. Winthrop Advisory Group LLC’s holdings in PepsiCo were worth $1,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PEP. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the 3rd quarter worth $28,000. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $164.00 on Friday. The business’s 50-day simple moving average is $172.50 and its 200-day simple moving average is $172.11. The firm has a market capitalization of $225.01 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.10 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP – Get Free Report) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $23.86 billion. During the same period in the prior year, the company earned $2.25 EPS. The firm’s revenue was down .6% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEP. Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. 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. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average target price of $183.92.

Check Out Our Latest Research Report on PEP

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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