Ramsay Stattman Vela & Price Inc. Sells 2,654 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Ramsay Stattman Vela & Price Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,866 shares of the company’s stock after selling 2,654 shares during the period. PepsiCo accounts for 2.4% of Ramsay Stattman Vela & Price Inc.’s holdings, making the stock its 13th biggest holding. Ramsay Stattman Vela & Price Inc.’s holdings in PepsiCo were worth $12,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in PEP. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. POM Investment Strategies LLC boosted its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo during the second quarter valued at approximately $30,000. Mattson Financial Services LLC bought a new position in shares of PepsiCo during the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC purchased a new stake in PepsiCo during the second quarter valued at approximately $42,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

PEP stock traded down $1.68 during midday trading on Tuesday, hitting $168.16. 1,345,770 shares of the stock traded hands, compared to its average volume of 5,448,153. The stock’s fifty day simple moving average is $173.78 and its 200-day simple moving average is $172.29. 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 $231.18 billion, a P/E ratio of 24.47, a PEG ratio of 3.20 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 (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the business earned $2.25 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PEP. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. DZ Bank cut 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. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $183.92.

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.