Glass Wealth Management Co LLC Sells 124 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Glass Wealth Management Co LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,485 shares of the company’s stock after selling 124 shares during the period. Glass Wealth Management Co LLC’s holdings in PepsiCo were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Edgestream Partners L.P. increased its position in PepsiCo by 20.9% in the 1st quarter. Edgestream Partners L.P. now owns 4,605 shares of the company’s stock worth $806,000 after buying an additional 796 shares during the period. PYA Waltman Capital LLC increased its position in PepsiCo by 18.3% during the first quarter. PYA Waltman Capital LLC now owns 14,348 shares of the company’s stock worth $2,511,000 after acquiring an additional 2,218 shares during the period. Capitolis Liquid Global Markets LLC raised its stake in PepsiCo by 268.9% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 848,400 shares of the company’s stock valued at $148,478,000 after purchasing an additional 618,400 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in PepsiCo in the 1st quarter valued at $559,000. Finally, Lake Street Advisors Group LLC grew its position in PepsiCo by 172.0% in the 1st quarter. Lake Street Advisors Group LLC now owns 22,084 shares of the company’s stock worth $3,893,000 after purchasing an additional 13,966 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $158.62 on Monday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a 50 day moving average of $170.82 and a 200-day moving average of $171.50. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market cap of $217.63 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during 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 business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $183.92.

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.