D.B. Root & Company LLC Sells 211 Shares of PepsiCo, Inc. (NASDAQ:PEP)

D.B. Root & Company LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,603 shares of the company’s stock after selling 211 shares during the quarter. D.B. Root & Company LLC’s holdings in PepsiCo were worth $783,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Legal & General Group Plc raised its holdings in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in PepsiCo by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after purchasing an additional 492,888 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PEP shares. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Wells Fargo & Company reduced their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Down 1.9 %

Shares of NASDAQ:PEP opened at $164.71 on Thursday. The business’s 50 day simple moving average is $172.50 and its two-hundred day simple moving average is $172.11. The firm has a market cap of $225.98 billion, a P/E ratio of 24.29, a PEG ratio of 3.10 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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 business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. As a group, research 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.