Mill Creek Capital Advisors LLC Has $1.11 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Mill Creek Capital Advisors LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 29.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,537 shares of the company’s stock after selling 2,715 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in PepsiCo were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PEP. Legal & General Group Plc grew its stake in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP raised its position in PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of PepsiCo by 14.6% in the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock valued at $676,036,000 after buying an additional 492,888 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $158.62 on Friday. The company has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. The firm’s 50 day simple moving average is $170.82 and its 200 day simple moving average is $171.53. 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, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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. The company had revenue of $23.32 billion for 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%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Ratings Changes

PEP has been the topic of a number of research analyst reports. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.