Stone Point Wealth LLC Sells 504 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Stone Point Wealth LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 27,395 shares of the company’s stock after selling 504 shares during the period. PepsiCo makes up 1.5% of Stone Point Wealth LLC’s investment portfolio, making the stock its 15th biggest position. Stone Point Wealth LLC’s holdings in PepsiCo were worth $4,659,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% in 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 during the period. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter worth approximately $28,000. POM Investment Strategies LLC lifted its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo in the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Up 0.3 %

PEP stock opened at $164.43 on Friday. The company has a market capitalization of $225.60 billion, a PE ratio of 24.19, a P/E/G ratio of 3.10 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The firm’s 50-day moving average is $172.50 and its 200 day moving average is $172.11. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for 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 for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEP. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their target price 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. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.