Pegasus Partners Ltd. Sells 2,227 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pegasus Partners Ltd. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 21.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,168 shares of the company’s stock after selling 2,227 shares during the period. Pegasus Partners Ltd.’s holdings in PepsiCo were worth $1,389,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its stake in shares of 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 purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC boosted its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo in the second quarter worth about $30,000. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.7 %

PepsiCo stock opened at $165.11 on Friday. The company has a fifty day simple moving average of $172.19 and a 200 day simple moving average of $171.97. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market cap of $226.53 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the business earned $2.25 EPS. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

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.