Chesapeake Wealth Management Sells 519 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Chesapeake Wealth Management trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,258 shares of the company’s stock after selling 519 shares during the quarter. Chesapeake Wealth Management’s holdings in PepsiCo were worth $894,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pathstone Holdings LLC boosted its stake in PepsiCo by 5.7% during the third quarter. Pathstone Holdings LLC now owns 242,480 shares of the company’s stock worth $41,234,000 after buying an additional 13,083 shares during the period. Lindenwold Advisors INC lifted its holdings in shares of PepsiCo by 0.7% in the 3rd quarter. Lindenwold Advisors INC now owns 12,687 shares of the company’s stock worth $2,157,000 after acquiring an additional 86 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in shares of PepsiCo by 5.6% during the 3rd quarter. Aviance Capital Partners LLC now owns 16,545 shares of the company’s stock worth $2,813,000 after purchasing an additional 876 shares during the period. Windle Wealth LLC raised its position in PepsiCo by 4.5% in the 3rd quarter. Windle Wealth LLC now owns 38,458 shares of the company’s stock worth $6,540,000 after purchasing an additional 1,639 shares during the period. Finally, New England Asset Management Inc. lifted its stake in PepsiCo by 3.1% in the third quarter. New England Asset Management Inc. now owns 11,387 shares of the company’s stock worth $1,936,000 after purchasing an additional 345 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock opened at $158.33 on Tuesday. The stock’s 50-day moving average is $170.42 and its 200 day moving average is $171.38. PepsiCo, Inc. has a 1-year low of $157.76 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market cap of $217.23 billion, a P/E ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating 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 company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm earned $2.25 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. One investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.