Tower Bridge Advisors Has $16.17 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Tower Bridge Advisors lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,083 shares of the company’s stock after selling 1,050 shares during the period. PepsiCo accounts for 1.7% of Tower Bridge Advisors’ holdings, making the stock its 14th biggest position. Tower Bridge Advisors’ holdings in PepsiCo were worth $16,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Global Wealth Strategies & Associates increased its position in PepsiCo by 59.0% during the third 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 last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC raised its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter worth $30,000. Finally, Rakuten Securities Inc. increased its holdings in shares of 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. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 4.0 %

PEP opened at $158.62 on Friday. The stock has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The company has a 50-day simple moving average of $170.82 and a 200 day simple moving average of $171.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the business posted $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEP. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.