Troy Asset Management Ltd Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

Troy Asset Management Ltd reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,171 shares of the company’s stock after selling 33,286 shares during the period. PepsiCo makes up about 2.2% of Troy Asset Management Ltd’s holdings, making the stock its 13th largest holding. Troy Asset Management Ltd’s holdings in PepsiCo were worth $68,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the third quarter worth $28,000. POM Investment Strategies LLC raised its stake in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo during the 2nd quarter worth about $30,000. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth about $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PepsiCo stock opened at $165.11 on Friday. 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 business has a 50 day simple moving average of $172.19 and a 200-day simple moving average of $171.97. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The stock has a market capitalization of $226.53 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 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 company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the business earned $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PEP shares. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Royal Bank of Canada lowered their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.