PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Troy Asset Management Ltd

Troy Asset Management Ltd reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 403,171 shares of the company’s stock after selling 33,286 shares during the quarter. PepsiCo accounts for 2.2% of Troy Asset Management Ltd’s holdings, making the stock its 13th largest position. Troy Asset Management Ltd’s holdings in PepsiCo were worth $68,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Atomi Financial Group Inc. grew its position in shares of PepsiCo by 28.7% during the 1st quarter. Atomi Financial Group Inc. now owns 5,308 shares of the company’s stock valued at $929,000 after acquiring an additional 1,183 shares during the period. Choate Investment Advisors grew its holdings in PepsiCo by 0.5% in the first quarter. Choate Investment Advisors now owns 143,929 shares of the company’s stock valued at $25,189,000 after purchasing an additional 751 shares during the period. NorthRock Partners LLC increased its position in shares of PepsiCo by 17.6% in the first quarter. NorthRock Partners LLC now owns 13,928 shares of the company’s stock valued at $2,438,000 after buying an additional 2,083 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of PepsiCo by 7.1% during the 1st quarter. Meeder Asset Management Inc. now owns 3,483 shares of the company’s stock worth $610,000 after buying an additional 232 shares during the period. Finally, Capital Square LLC purchased a new position in shares of PepsiCo during the 1st quarter valued at approximately $206,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on PEP. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. 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 on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One 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 MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.7 %

Shares of NASDAQ:PEP opened at $165.11 on Friday. The business has a 50-day moving average price of $172.19 and a 200 day moving average price of $171.97. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month 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 capitalization of $226.53 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the company posted $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

About PepsiCo

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.