Venturi Wealth Management LLC Sells 60,843 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Venturi Wealth Management LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 86.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,149 shares of the company’s stock after selling 60,843 shares during the quarter. Venturi Wealth Management LLC’s holdings in PepsiCo were worth $1,556,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth about $28,000. POM Investment Strategies LLC grew its position in shares of 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 buying an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth about $30,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth about $34,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One 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. According to MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $164.26 on Tuesday. The firm’s 50 day moving average price is $172.19 and its 200-day moving average price is $171.94. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. 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 capitalization of $225.36 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued 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 firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the business earned $2.25 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Equities research 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.