Spinnaker Trust Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Spinnaker Trust cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,540 shares of the company’s stock after selling 1,470 shares during the quarter. Spinnaker Trust’s holdings in PepsiCo were worth $5,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEP. Global Wealth Strategies & Associates increased its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter worth about $28,000. POM Investment Strategies LLC boosted its stake in shares of PepsiCo by 141.3% in the 2nd 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 shares of PepsiCo during the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo in the second quarter worth approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PepsiCo stock traded down $3.61 during midday trading on Wednesday, reaching $164.24. The company had a trading volume of 1,604,858 shares, compared to its average volume of 5,439,289. The firm’s fifty day simple moving average is $172.69 and its 200-day simple moving average is $172.16. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The company has a market capitalization of $225.34 billion, a P/E ratio of 24.22, a P/E/G ratio of 3.09 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 announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The company 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%. PepsiCo’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.25 EPS. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research reports. Bank of America dropped 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. JPMorgan Chase & Co. decreased their price target 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. Morgan Stanley lowered 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. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group cut their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $183.92.

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.