PepsiCo, Inc. (NASDAQ:PEP) Holdings Decreased by Simmons Bank

Simmons Bank lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 71,463 shares of the company’s stock after selling 944 shares during the quarter. PepsiCo comprises 0.9% of Simmons Bank’s holdings, making the stock its 26th biggest position. Simmons Bank’s holdings in PepsiCo were worth $12,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TBH Global Asset Management LLC bought a new position in PepsiCo during the 1st quarter valued at $317,000. Kingsview Wealth Management LLC boosted its stake in PepsiCo by 10.6% during the first quarter. Kingsview Wealth Management LLC now owns 106,271 shares of the company’s stock valued at $18,599,000 after buying an additional 10,201 shares in the last quarter. Wilkins Investment Counsel Inc. raised its position in PepsiCo by 45.8% in the first quarter. Wilkins Investment Counsel Inc. now owns 86,612 shares of the company’s stock worth $15,158,000 after acquiring an additional 27,223 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in PepsiCo by 8.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 113,105 shares of the company’s stock valued at $19,794,000 after acquiring an additional 8,612 shares during the last quarter. Finally, Private Portfolio Partners LLC grew its stake in shares of PepsiCo by 5.4% in the 1st quarter. Private Portfolio Partners LLC now owns 3,551 shares of the company’s stock worth $621,000 after purchasing an additional 182 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEP. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a report on Friday, July 19th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

NASDAQ PEP opened at $164.34 on Wednesday. The company has a 50 day moving average price of $172.02 and a two-hundred day moving average price of $171.85. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The stock has a market capitalization of $225.47 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 3.06 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 (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the business posted $2.25 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, 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.