PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 20.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 393,248 shares of the company’s stock after selling 101,056 shares during the period. Los Angeles Capital Management LLC’s holdings in PepsiCo were worth $66,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc lifted 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 worth $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after acquiring an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after acquiring an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after acquiring an additional 57,322 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in PepsiCo by 14.6% during 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 period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PEP shares. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Bank of America cut their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. One 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, the company currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.7 %

Shares of PepsiCo stock traded up $1.11 during trading hours on Friday, hitting $165.11. The company had a trading volume of 4,618,265 shares, compared to its average volume of 5,463,349. The company’s 50-day moving average is $172.19 and its two-hundred day moving average is $171.98. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market cap of $226.53 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued 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 during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the business posted $2.25 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal 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.