Gulf International Bank UK Ltd Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

Gulf International Bank UK Ltd decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 108,070 shares of the company’s stock after selling 4,836 shares during the period. Gulf International Bank UK Ltd’s holdings in PepsiCo were worth $18,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. M&G Plc lifted its holdings in shares of PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the last quarter. OLD Second National Bank of Aurora grew its holdings in PepsiCo by 32.7% in the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock valued at $4,079,000 after purchasing an additional 5,737 shares during the period. Nisa Investment Advisors LLC lifted its holdings in PepsiCo by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock valued at $63,853,000 after purchasing an additional 2,976 shares in the last quarter. Viking Fund Management LLC grew its position in shares of PepsiCo by 8.2% in the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock valued at $11,223,000 after purchasing an additional 5,000 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of PepsiCo by 50.0% during the 2nd quarter. GAMMA Investing LLC now owns 20,448 shares of the company’s stock worth $3,372,000 after purchasing an additional 6,813 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PEP. Bank of America lowered their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

PEP stock opened at $166.34 on Tuesday. The stock has a market cap of $228.22 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.09 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two 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 business has a 50 day moving average price of $172.84 and a 200 day moving average price of $172.20.

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

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.