PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,318 shares of the company’s stock after selling 127 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in PepsiCo were worth $564,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its stake in PepsiCo by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 19,119 shares of the company’s stock valued at $3,251,000 after purchasing an additional 92 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in PepsiCo in the third quarter valued at $151,749,000. New Covenant Trust Company N.A. increased its stake in PepsiCo by 36.4% in the third quarter. New Covenant Trust Company N.A. now owns 2,059 shares of the company’s stock valued at $350,000 after purchasing an additional 550 shares during the last quarter. Janney Capital Management LLC acquired a new position in PepsiCo in the third quarter valued at $12,001,000. Finally, Private Wealth Partners LLC increased its stake in PepsiCo by 1.5% in the third quarter. Private Wealth Partners LLC now owns 35,906 shares of the company’s stock valued at $6,106,000 after purchasing an additional 516 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research reports. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report 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 report on Friday, September 20th. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.3 %

NASDAQ:PEP opened at $165.59 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The business’s 50-day simple moving average is $173.03 and its 200 day simple moving average is $172.23. The stock has a market cap of $227.19 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly 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 return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts predict 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.