Horrell Capital Management Inc. Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Horrell Capital Management Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,831 shares of the company’s stock after selling 2,980 shares during the period. PepsiCo accounts for about 1.4% of Horrell Capital Management Inc.’s portfolio, making the stock its 23rd largest position. Horrell Capital Management Inc.’s holdings in PepsiCo were worth $4,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. GW Henssler & Associates Ltd. raised its position in PepsiCo by 1.2% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 118,369 shares of the company’s stock worth $20,129,000 after buying an additional 1,373 shares during the last quarter. PBMares Wealth Management LLC increased its holdings in shares of PepsiCo by 2.6% during the 3rd quarter. PBMares Wealth Management LLC now owns 7,906 shares of the company’s stock valued at $1,344,000 after purchasing an additional 201 shares in the last quarter. True Link Financial Advisors LLC increased its holdings in PepsiCo by 5.3% in the 3rd quarter. True Link Financial Advisors LLC now owns 2,400 shares of the company’s stock worth $408,000 after acquiring an additional 121 shares in the last quarter. MONECO Advisors LLC increased its holdings in PepsiCo by 7.6% in the 3rd quarter. MONECO Advisors LLC now owns 14,409 shares of the company’s stock worth $2,450,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in PepsiCo by 197.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,020 shares of the company’s stock worth $173,000 after acquiring an additional 677 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.2 %

PepsiCo stock traded down $2.05 during trading hours on Tuesday, reaching $167.79. 1,434,831 shares of the company’s stock were exchanged, compared to its average volume of 5,449,101. 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’s 50 day simple moving average is $173.78 and its 200 day simple moving average is $172.29. The firm has a market capitalization of $230.68 billion, a PE ratio of 24.47, a PEG ratio of 3.20 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 EPS. The company’s revenue was down .6% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. Barclays decreased their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, TD Cowen downgraded 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 report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price 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.