PepsiCo, Inc. (NASDAQ:PEP) Holdings Lowered by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 49.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Global Wealth Strategies & Associates raised its holdings 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 purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC raised its holdings 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 purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 0.6 %

PEP stock traded down $1.04 during trading hours on Wednesday, hitting $163.30. The company’s stock had a trading volume of 1,155,924 shares, compared to its average volume of 5,435,698. 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 company has a market capitalization of $224.05 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The stock has a 50 day moving average price of $171.75 and a two-hundred day moving average price of $171.77.

PepsiCo (NASDAQ:PEP) last posted its 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 the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.25 earnings per share. On average, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Barclays dropped 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.