Chesapeake Wealth Management Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Chesapeake Wealth Management lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.0% during the 3rd quarter, Holdings Channel reports. The firm owned 5,258 shares of the company’s stock after selling 519 shares during the quarter. Chesapeake Wealth Management’s holdings in PepsiCo were worth $894,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates increased its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter valued at $30,000. Finally, Rakuten Securities Inc. boosted its holdings in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.2 %

Shares of NASDAQ PEP opened at $158.33 on Tuesday. The stock has a market cap of $217.23 billion, a PE ratio of 23.35, a P/E/G 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 $157.76 and a 12-month high of $183.41. The company has a 50-day moving average of $170.42 and a 200 day moving average of $171.38.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEP. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a report on Friday, September 20th. Finally, TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company 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.