First Fiduciary Investment Counsel Inc. Sells 54,572 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Fiduciary Investment Counsel Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 96.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,963 shares of the company’s stock after selling 54,572 shares during the period. First Fiduciary Investment Counsel Inc.’s holdings in PepsiCo were worth $334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Wealth Strategies & Associates increased its stake 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 buying an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter worth $28,000. POM Investment Strategies LLC grew its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo during the second quarter worth $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Finally, DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $165.11 on Friday. The firm has a market cap of $226.53 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The stock’s 50-day moving average is $172.19 and its 200-day moving average is $171.97. PepsiCo, Inc. has a one year low of $158.03 and a one year 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 issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the company posted $2.25 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

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.