PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 904,853 shares of the company’s stock after selling 10,114 shares during the period. PepsiCo accounts for about 2.1% of Confluence Investment Management LLC’s portfolio, making the stock its 7th largest position. Confluence Investment Management LLC’s holdings in PepsiCo were worth $153,870,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Tandem Investment Advisors Inc. grew its position in PepsiCo by 4.9% in the third quarter. Tandem Investment Advisors Inc. now owns 1,517 shares of the company’s stock valued at $258,000 after acquiring an additional 71 shares during the period. Portside Wealth Group LLC boosted its stake in shares of PepsiCo by 3.2% in the 3rd quarter. Portside Wealth Group LLC now owns 9,481 shares of the company’s stock valued at $1,612,000 after purchasing an additional 293 shares in the last quarter. Western Pacific Wealth Management LP grew its holdings in shares of PepsiCo by 34.7% in the 3rd quarter. Western Pacific Wealth Management LP now owns 1,554 shares of the company’s stock worth $264,000 after purchasing an additional 400 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth about $68,000. Finally, Global Strategic Investment Solutions LLC lifted its holdings in PepsiCo by 5.4% during the 3rd quarter. Global Strategic Investment Solutions LLC now owns 2,003 shares of the company’s stock valued at $341,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP opened at $164.00 on Friday. The company has a fifty day moving average price of $172.50 and a two-hundred day moving average price of $172.11. 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 firm has a market capitalization of $225.01 billion, a PE ratio of 24.19, 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.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company posted $2.25 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on PEP shares. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Bank of America cut their price objective 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 lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating 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 given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Company 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.