Central Bank & Trust Co. Sells 119 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Central Bank & Trust Co. lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,530 shares of the company’s stock after selling 119 shares during the quarter. Central Bank & Trust Co.’s holdings in PepsiCo were worth $600,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PEP. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% during 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 during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC raised its position in 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 purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo in the 2nd quarter valued at $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $166.34 on Tuesday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $228.22 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The stock’s fifty day simple moving average is $172.84 and its two-hundred day simple moving average is $172.20.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the company earned $2.25 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price 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.