Principal Securities Inc. Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Principal Securities Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,715 shares of the company’s stock after selling 2,927 shares during the quarter. Principal Securities Inc.’s holdings in PepsiCo were worth $4,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates increased 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 buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter worth approximately $28,000. POM Investment Strategies LLC boosted its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the second quarter worth approximately $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

NASDAQ:PEP opened at $165.59 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $227.19 billion, a P/E ratio of 24.42, a P/E/G ratio of 3.10 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 stock’s fifty day moving average is $173.03 and its two-hundred day moving average is $172.19.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 EPS. Equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEP. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. Royal Bank of Canada lowered their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Jefferies Financial Group lowered their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One equities 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 stock. According to MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $183.92.

About PepsiCo

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.