Cutler Investment Counsel LLC Sells 1,678 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cutler Investment Counsel LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the third quarter, HoldingsChannel reports. The fund owned 61,791 shares of the company’s stock after selling 1,678 shares during the quarter. Cutler Investment Counsel LLC’s holdings in PepsiCo were worth $10,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Heritage Investment Group Inc. lifted its position in shares of PepsiCo by 7.5% in the third quarter. Heritage Investment Group Inc. now owns 2,751 shares of the company’s stock valued at $468,000 after acquiring an additional 193 shares in the last quarter. RIA Advisory Group LLC bought a new stake in shares of PepsiCo in the third quarter worth about $1,094,000. Natixis Advisors LLC boosted its stake in PepsiCo by 7.2% during the third quarter. Natixis Advisors LLC now owns 892,326 shares of the company’s stock valued at $151,740,000 after buying an additional 60,026 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in PepsiCo by 682.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 829,500 shares of the company’s stock valued at $141,056,000 after buying an additional 723,504 shares in the last quarter. Finally, Coastline Trust Co increased its stake in PepsiCo by 1.4% in the 3rd quarter. Coastline Trust Co now owns 22,531 shares of the company’s stock worth $3,831,000 after acquiring an additional 312 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Down 4.0 %

Shares of NASDAQ:PEP traded down $6.53 during trading hours on Friday, reaching $158.62. The stock had a trading volume of 9,108,948 shares, compared to its average volume of 5,466,003. The stock has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 3.07 and a beta of 0.53. The firm’s 50 day moving average is $170.82 and its 200-day moving average is $171.56. 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 1 year low of $158.03 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One research 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo 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.