M&G Plc Sells 353,292 Shares of PepsiCo, Inc. (NASDAQ:PEP)

M&G Plc decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 82.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,977 shares of the company’s stock after selling 353,292 shares during the period. M&G Plc’s holdings in PepsiCo were worth $12,406,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PEP. JNBA Financial Advisors increased its holdings in shares of PepsiCo by 3.5% during the 3rd quarter. JNBA Financial Advisors now owns 4,168 shares of the company’s stock worth $709,000 after purchasing an additional 140 shares during the period. American Capital Advisory LLC grew its position in PepsiCo by 126.0% during the third quarter. American Capital Advisory LLC now owns 4,576 shares of the company’s stock worth $778,000 after buying an additional 2,551 shares in the last quarter. Maia Wealth LLC increased its stake in PepsiCo by 32.7% during the third quarter. Maia Wealth LLC now owns 2,652 shares of the company’s stock valued at $457,000 after acquiring an additional 654 shares during the period. Umpqua Bank raised its holdings in PepsiCo by 6.9% in the 3rd quarter. Umpqua Bank now owns 13,194 shares of the company’s stock valued at $2,244,000 after acquiring an additional 857 shares in the last quarter. Finally, Harvest Portfolios Group Inc. grew its holdings in shares of PepsiCo by 3.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 102,449 shares of the company’s stock worth $17,421,000 after purchasing an additional 3,301 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on PEP. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a report on Friday, July 19th. Finally, Hsbc Global Res raised 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 issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of PEP stock opened at $164.00 on Friday. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. 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’s 50 day moving average is $172.50 and its 200-day moving average is $172.11. The firm has a market capitalization of $225.01 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 3.10 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.25 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.