PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Hartford Financial Management Inc.

Hartford Financial Management Inc. lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,391 shares of the company’s stock after selling 407 shares during the period. Hartford Financial Management Inc.’s holdings in PepsiCo were worth $5,168,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in the third 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 shares of PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC lifted its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo in the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the 2nd quarter valued at $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Barclays decreased their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Bank of America lowered 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Down 0.1 %

NASDAQ:PEP opened at $166.08 on Friday. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company’s 50-day simple moving average is $173.24 and its 200 day simple moving average is $172.20. The firm has a market capitalization of $227.86 billion, a P/E ratio of 24.50, a PEG ratio of 3.10 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping 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 analyst estimates of $23.86 billion. During the same quarter last year, the company earned $2.25 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo 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.