WASHINGTON TRUST Co lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 1.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 111,944 shares of the company’s stock after selling 1,552 shares during the quarter. WASHINGTON TRUST Co’s holdings in PepsiCo were worth $19,029,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC increased its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the second quarter worth about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.
PepsiCo Trading Down 0.2 %
Shares of PEP stock traded down $0.40 during mid-day trading on Wednesday, hitting $167.10. The company’s stock had a trading volume of 658,988 shares, compared to its average volume of 5,443,876. The company has a market cap of $229.73 billion, a PE ratio of 24.24, a P/E/G ratio of 3.20 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. 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’s fifty day simple moving average is $173.61 and its 200-day simple moving average is $172.29.
Analysts Set New Price Targets
PEP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. 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. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $183.92.
Get Our Latest Stock Analysis on PEP
PepsiCo Profile
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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