First Long Island Investors LLC Sells 744 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Long Island Investors LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,377 shares of the company’s stock after selling 744 shares during the period. First Long Island Investors LLC’s holdings in PepsiCo were worth $16,389,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. M&G Plc grew its stake in shares of PepsiCo by 3.6% during the 2nd 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 period. Empowered Funds LLC raised its position in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the period. Pinnacle Financial Partners Inc lifted its stake in shares of PepsiCo by 3.5% during the 3rd 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 in the last quarter. Fiduciary Family Office LLC grew its stake in PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after buying an additional 3,727 shares in the last quarter. Finally, GFS Advisors LLC lifted its position 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 acquiring an additional 71,727 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP traded down $4.45 on Friday, reaching $160.70. 1,996,317 shares of the company’s stock traded hands, compared to its average volume of 5,434,038. The stock has a market cap of $220.48 billion, a PE ratio of 23.70, a P/E/G ratio of 3.07 and a beta of 0.53. 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 12 month low of $158.03 and a 12 month high of $183.41. The stock has a 50-day simple moving average of $171.19 and a 200 day simple moving average of $171.68.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the company earned $2.25 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Bank of America lowered their target price 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. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Barclays lowered their price objective 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, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report 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’s stock. According to MarketBeat.com, the stock has an average 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.