Beaton Management Co. Inc. Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Beaton Management Co. Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,098 shares of the company’s stock after selling 100 shares during the quarter. PepsiCo makes up 2.3% of Beaton Management Co. Inc.’s holdings, making the stock its 13th largest holding. Beaton Management Co. Inc.’s holdings in PepsiCo were worth $4,608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PEP. Legal & General Group Plc increased its holdings in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA boosted its position in PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of PepsiCo by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after buying an additional 492,888 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $158.62 on Friday. The company has a 50 day simple moving average of $170.82 and a two-hundred day simple moving average of $171.53. The stock has a market cap of $217.63 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results 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 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 firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 earnings per share. As a group, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Ratings Changes

PEP has been the subject of a number of analyst reports. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Barclays reduced 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. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.