South Street Advisors LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

South Street Advisors LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 74,635 shares of the company’s stock after selling 3,215 shares during the period. PepsiCo accounts for about 1.9% of South Street Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. South Street Advisors LLC’s holdings in PepsiCo were worth $12,692,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Global Wealth Strategies & Associates raised its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the third quarter valued at approximately $28,000. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo in the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo in the second quarter worth approximately $34,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Barclays cut their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

NASDAQ:PEP traded down $6.53 during mid-day trading on Friday, hitting $158.62. The company’s stock had a trading volume of 9,108,948 shares, compared to its average volume of 5,466,003. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year 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 stock has a market cap of $217.63 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 3.07 and a beta of 0.53. The business’s fifty day moving average is $170.82 and its two-hundred day moving average is $171.56.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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. The business 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 company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo 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.