Hartford Financial Management Inc. Sells 407 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hartford Financial Management Inc. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 30,391 shares of the company’s stock after selling 407 shares during the period. Hartford Financial Management Inc.’s holdings in PepsiCo were worth $5,168,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PEP. Meixler Investment Management Ltd. boosted its holdings in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC grew its holdings in PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Bank of Stockton raised its stake in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC boosted its position in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.1 %

NASDAQ:PEP opened at $166.08 on Friday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $227.86 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 3.10 and a beta of 0.53. The business’s fifty day moving average price is $173.24 and its 200 day moving average price is $172.20.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the company posted $2.25 EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEP shares. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Company 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.