Ferguson Wellman Capital Management Inc. Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Ferguson Wellman Capital Management Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,456 shares of the company’s stock after selling 2,076 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in PepsiCo were worth $8,070,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. M&G Plc raised its holdings in shares of PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares during the last quarter. Fiduciary Family Office LLC boosted its stake in shares of PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,727 shares during the last quarter. GFS Advisors LLC grew its holdings in shares of PepsiCo by 13,209.4% during the third quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock worth $12,290,000 after buying an additional 71,727 shares in the last quarter. Pinnacle Financial Partners Inc lifted its stake in shares of PepsiCo by 3.5% during the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after buying an additional 4,547 shares during the period. Finally, WoodTrust Financial Corp raised its holdings in PepsiCo by 5.7% in the 3rd quarter. WoodTrust Financial Corp now owns 64,341 shares of the company’s stock valued at $10,941,000 after acquiring an additional 3,465 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the topic of a number of research analyst reports. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note 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 for the company. in a research report on Friday, July 19th. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

PEP stock traded up $0.28 during trading on Thursday, reaching $165.02. 87,219 shares of the company’s stock were exchanged, compared to its average volume of 5,425,451. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The firm has a market cap of $226.41 billion, a PE ratio of 24.30, a P/E/G ratio of 3.06 and a beta of 0.53. The company’s fifty day moving average price is $171.48 and its 200-day moving average price is $171.72. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted 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 business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company posted $2.25 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.