PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Simmons Bank

Simmons Bank lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,463 shares of the company’s stock after selling 944 shares during the quarter. PepsiCo accounts for about 0.9% of Simmons Bank’s holdings, making the stock its 26th biggest position. Simmons Bank’s holdings in PepsiCo were worth $12,152,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. TBH Global Asset Management LLC purchased a new stake in shares of PepsiCo in the first quarter valued at about $317,000. Kingsview Wealth Management LLC grew its holdings in PepsiCo by 10.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 106,271 shares of the company’s stock valued at $18,599,000 after buying an additional 10,201 shares during the last quarter. Wilkins Investment Counsel Inc. raised its holdings in shares of PepsiCo by 45.8% in the first quarter. Wilkins Investment Counsel Inc. now owns 86,612 shares of the company’s stock worth $15,158,000 after acquiring an additional 27,223 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of PepsiCo by 8.2% in the first quarter. Orion Portfolio Solutions LLC now owns 113,105 shares of the company’s stock valued at $19,794,000 after acquiring an additional 8,612 shares in the last quarter. Finally, Private Portfolio Partners LLC boosted its stake in shares of PepsiCo by 5.4% during the first quarter. Private Portfolio Partners LLC now owns 3,551 shares of the company’s stock valued at $621,000 after acquiring an additional 182 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced 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. Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Trading Up 0.0 %

PepsiCo stock opened at $164.34 on Wednesday. The company has a market cap of $225.47 billion, a P/E ratio of 24.24, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The firm’s 50-day moving average is $172.02 and its 200-day moving average is $171.85. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business 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 business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.25 EPS. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

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.