South Street Advisors LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

South Street Advisors LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,635 shares of the company’s stock after selling 3,215 shares during the period. PepsiCo makes up about 1.9% of South Street Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. South Street Advisors LLC’s holdings in PepsiCo were worth $12,692,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its holdings in shares of 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 buying an additional 59 shares during the period. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter worth $28,000. POM Investment Strategies LLC raised its holdings in 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 purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new position in PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo in the 2nd quarter worth $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. 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. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $6.53 during trading on Friday, reaching $158.62. 9,108,948 shares of the stock traded hands, compared to its average volume of 5,466,003. The company has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The business has a fifty day simple moving average of $170.82 and a two-hundred day simple moving average of $171.56.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $2.25 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current 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.