ICICI Prudential Asset Management Co Ltd Has $3.05 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

ICICI Prudential Asset Management Co Ltd trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 49.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,931 shares of the company’s stock after selling 17,394 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in PepsiCo were worth $3,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter valued at $28,000. POM Investment Strategies LLC raised its stake in 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 purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter valued at $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ:PEP traded down $1.04 during mid-day trading on Wednesday, reaching $163.30. 1,155,924 shares of the company were exchanged, compared to its average volume of 5,435,698. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The company has a fifty day moving average of $171.75 and a 200 day moving average of $171.77. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market cap of $224.05 billion, a PE ratio of 24.07, a PEG ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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 net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEP. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report 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 target on the stock. in a report on Friday, September 20th. Finally, Bank of America lowered their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $183.92.

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.