PepsiCo, Inc. (NASDAQ:PEP) Holdings Lowered by Kanawha Capital Management LLC

Kanawha Capital Management LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,426 shares of the company’s stock after selling 3,009 shares during the quarter. PepsiCo makes up 1.6% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Kanawha Capital Management LLC’s holdings in PepsiCo were worth $21,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC grew its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter valued at $30,000. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.3 %

PepsiCo stock opened at $165.59 on Monday. The firm has a market cap of $227.19 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 3.09 and a beta of 0.53. The firm has a fifty day moving average price of $173.03 and a two-hundred day moving average price of $172.25. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $23.86 billion. During the same quarter last year, the firm posted $2.25 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PEP shares. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $183.92.

About PepsiCo

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.