PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Stone Point Wealth LLC

Stone Point Wealth LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the third quarter, Holdings Channel reports. The firm owned 27,395 shares of the company’s stock after selling 504 shares during the period. PepsiCo comprises 1.5% of Stone Point Wealth LLC’s holdings, making the stock its 15th largest position. Stone Point Wealth LLC’s holdings in PepsiCo were worth $4,659,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several analysts have commented on PEP shares. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $164.43 on Friday. The firm has a 50-day simple moving average of $172.50 and a 200-day simple moving average of $172.11. The stock has a market capitalization of $225.60 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) 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%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.25 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

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.