Parthenon LLC Has $17.22 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Parthenon LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,288 shares of the company’s stock after selling 410 shares during the period. PepsiCo comprises about 2.1% of Parthenon LLC’s holdings, making the stock its 16th largest position. Parthenon LLC’s holdings in PepsiCo were worth $17,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEP. GHE LLC lifted its holdings in shares of PepsiCo by 6.7% in the third quarter. GHE LLC now owns 12,117 shares of the company’s stock valued at $1,931,000 after purchasing an additional 762 shares in the last quarter. OLD Second National Bank of Aurora boosted its holdings in PepsiCo by 24.3% during the 3rd quarter. OLD Second National Bank of Aurora now owns 28,630 shares of the company’s stock worth $4,869,000 after acquiring an additional 5,606 shares during the last quarter. Pinnacle Financial Partners Inc grew its position in PepsiCo by 3.5% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after purchasing an additional 4,547 shares in the last quarter. Rossmore Private Capital increased its position in shares of PepsiCo by 2.0% during the third quarter. Rossmore Private Capital now owns 29,285 shares of the company’s stock valued at $4,980,000 after acquiring an additional 561 shares during the last quarter. Finally, MQS Management LLC increased its position in shares of PepsiCo by 45.2% during the 3rd quarter. MQS Management LLC now owns 6,075 shares of the company’s stock valued at $1,033,000 after purchasing an additional 1,892 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

PepsiCo stock traded down $1.09 during midday trading on Wednesday, hitting $163.25. 972,666 shares of the company’s stock were exchanged, compared to its average volume of 5,435,294. The company has a market cap of $223.98 billion, a P/E ratio of 24.24, a PEG ratio of 3.06 and a beta of 0.53. 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 stock 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 52-week low of $158.03 and a 52-week high of $183.41.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PEP. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.