Pegasus Partners Ltd. Sells 2,227 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pegasus Partners Ltd. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 21.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,168 shares of the company’s stock after selling 2,227 shares during the period. Pegasus Partners Ltd.’s holdings in PepsiCo were worth $1,389,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PEP. M&G Plc grew its holdings in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares during the last quarter. Fiduciary Family Office LLC raised its position in PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,727 shares during the last quarter. GFS Advisors LLC grew its position in shares of PepsiCo by 13,209.4% in the 3rd quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock valued at $12,290,000 after buying an additional 71,727 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of PepsiCo by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after buying an additional 2,976 shares during the period. Finally, Viking Fund Management LLC raised its position in shares of PepsiCo by 8.2% during the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock worth $11,223,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. reduced their price objective 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. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. DZ Bank lowered 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. Finally, 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 note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $165.11 on Friday. The firm has a market cap of $226.53 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The stock has a fifty day simple moving average of $172.19 and a two-hundred day simple moving average of $171.97. 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 1-year low of $158.03 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 firm had revenue of $23.32 billion during 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 quarterly revenue was down .6% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

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.