Arrow Financial Corp Sells 2,887 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Arrow Financial Corp reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,510 shares of the company’s stock after selling 2,887 shares during the period. Arrow Financial Corp’s holdings in PepsiCo were worth $2,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atomi Financial Group Inc. raised its position in shares of PepsiCo by 28.7% in the 1st quarter. Atomi Financial Group Inc. now owns 5,308 shares of the company’s stock worth $929,000 after purchasing an additional 1,183 shares during the last quarter. Choate Investment Advisors grew its holdings in shares of PepsiCo by 0.5% during the first quarter. Choate Investment Advisors now owns 143,929 shares of the company’s stock valued at $25,189,000 after buying an additional 751 shares during the last quarter. NorthRock Partners LLC increased its position in shares of PepsiCo by 17.6% during the first quarter. NorthRock Partners LLC now owns 13,928 shares of the company’s stock valued at $2,438,000 after acquiring an additional 2,083 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in PepsiCo by 7.1% in the 1st quarter. Meeder Asset Management Inc. now owns 3,483 shares of the company’s stock worth $610,000 after acquiring an additional 232 shares during the last quarter. Finally, Capital Square LLC purchased a new stake in PepsiCo during the 1st quarter valued at $206,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Barclays decreased their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. DZ Bank cut shares of 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. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

NASDAQ PEP opened at $165.11 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The stock has a market cap of $226.53 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.07 and a beta of 0.53. The company’s 50 day moving average is $172.19 and its two-hundred day moving average is $171.97.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the company earned $2.25 EPS. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Company 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.