Buckingham Capital Management Inc. Sells 335 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Buckingham Capital Management Inc. reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,379 shares of the company’s stock after selling 335 shares during the quarter. Buckingham Capital Management Inc.’s holdings in PepsiCo were worth $8,227,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. Swedbank AB lifted its position in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the period. PineStone Asset Management Inc. boosted its holdings in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Legal & General Group Plc grew its position in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at $151,749,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the subject of several research reports. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. DZ Bank downgraded 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. Finally, TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.1 %

PEP opened at $165.27 on Monday. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a 50-day simple moving average of $172.19 and a two-hundred day simple moving average of $171.94. The company has a market capitalization of $226.75 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53.

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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the company earned $2.25 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

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.