Ramsay Stattman Vela & Price Inc. Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Ramsay Stattman Vela & Price Inc. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% during the third quarter, Holdings Channel.com reports. The fund owned 75,866 shares of the company’s stock after selling 2,654 shares during the period. PepsiCo accounts for about 2.4% of Ramsay Stattman Vela & Price Inc.’s investment portfolio, making the stock its 13th biggest position. Ramsay Stattman Vela & Price Inc.’s holdings in PepsiCo were worth $12,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tributary Capital Management LLC acquired a new position in shares of PepsiCo in the first quarter valued at approximately $89,000. Iams Wealth Management LLC grew its holdings in PepsiCo by 12.9% during the 1st quarter. Iams Wealth Management LLC now owns 6,216 shares of the company’s stock worth $1,038,000 after acquiring an additional 712 shares in the last quarter. Cullinan Associates Inc. grew its holdings in PepsiCo by 1.6% during the 1st quarter. Cullinan Associates Inc. now owns 29,588 shares of the company’s stock worth $5,178,000 after acquiring an additional 463 shares in the last quarter. Westhampton Capital LLC grew its holdings in PepsiCo by 2.8% during the 1st quarter. Westhampton Capital LLC now owns 27,802 shares of the company’s stock worth $4,866,000 after acquiring an additional 763 shares in the last quarter. Finally, Financial Strategies Group Inc. grew its holdings in PepsiCo by 26.8% during the 1st quarter. Financial Strategies Group Inc. now owns 22,664 shares of the company’s stock worth $3,867,000 after acquiring an additional 4,789 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

NASDAQ:PEP traded down $1.68 during mid-day trading on Tuesday, hitting $168.16. 1,345,770 shares of the company’s stock traded hands, compared to its average volume of 5,448,153. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm’s 50 day simple moving average is $173.78 and its 200 day simple moving average is $172.29. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a market cap of $231.18 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm posted $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEP. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report 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 objective 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 Friday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target 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.