ESL Trust Services LLC Sells 147 Shares of PepsiCo, Inc. (NASDAQ:PEP)

ESL Trust Services LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 47.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 166 shares of the company’s stock after selling 147 shares during the period. ESL Trust Services LLC’s holdings in PepsiCo were worth $28,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC grew its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the 2nd quarter worth approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PEP shares. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Barclays lowered their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Finally, Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

NASDAQ:PEP opened at $165.11 on Friday. The firm has a market capitalization 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 has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The business has a 50 day simple moving average of $172.19 and a 200-day simple moving average of $171.97. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS 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 company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current 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.