Mackay Shields LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 15.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,292 shares of the company’s stock after selling 41,124 shares during the quarter. Mackay Shields LLC’s holdings in PepsiCo were worth $32,196,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Paragon Wealth Strategies LLC bought a new position in PepsiCo during the 2nd quarter valued at $30,000. Cowen Prime Advisors LLC acquired a new position in shares of PepsiCo in the 2nd quarter worth $34,000. Financial Insights Inc. acquired a new stake in PepsiCo during the 2nd quarter worth about $36,000. AGF Investments LLC acquired a new stake in PepsiCo during the 2nd quarter worth about $37,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in PepsiCo during the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 70.55% of the company’s stock.
PEP has been the topic of several recent analyst reports. Zacks Investment Research downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price objective on the stock. in a report on Monday, August 9th. Cowen reissued a “buy” rating and issued a $165.00 price target on shares of PepsiCo in a research report on Friday, July 9th. Wells Fargo & Company increased their price target on shares of PepsiCo from $147.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 14th. Morgan Stanley increased their price target on shares of PepsiCo from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 14th. Finally, Barclays increased their price target on shares of PepsiCo from $165.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $162.86.
PEP stock traded up $1.32 during midday trading on Thursday, hitting $159.31. 110,077 shares of the company traded hands, compared to its average volume of 4,897,530. PepsiCo, Inc. has a twelve month low of $128.32 and a twelve month high of $159.63. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 2.47. The business has a 50 day simple moving average of $155.19 and a 200-day simple moving average of $150.35. The stock has a market capitalization of $220.27 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, October 4th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.06. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. The company had revenue of $20.19 billion during the quarter, compared to analysts’ expectations of $19.39 billion. During the same period in the prior year, the business earned $1.66 earnings per share. PepsiCo’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 6.24 EPS for the current year.
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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