Manchester Capital Management LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Manchester Capital Management LLC trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 30.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,088 shares of the company’s stock after selling 2,721 shares during the period. Manchester Capital Management LLC’s holdings in PepsiCo were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in PepsiCo by 6.0% in the 2nd quarter. Vanguard Group Inc. now owns 124,559,499 shares of the company’s stock worth $16,474,240,000 after buying an additional 7,075,509 shares in the last quarter. Nordea Investment Management AB increased its stake in PepsiCo by 161.6% in the 2nd quarter. Nordea Investment Management AB now owns 5,935,150 shares of the company’s stock worth $781,896,000 after buying an additional 3,666,099 shares in the last quarter. Two Sigma Advisers LP increased its stake in PepsiCo by 211.7% in the 2nd quarter. Two Sigma Advisers LP now owns 2,133,685 shares of the company’s stock worth $282,201,000 after buying an additional 1,449,200 shares in the last quarter. Chilton Investment Co. LLC increased its stake in PepsiCo by 733.8% in the 2nd quarter. Chilton Investment Co. LLC now owns 695,411 shares of the company’s stock worth $91,975,000 after buying an additional 612,011 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in PepsiCo by 2,431.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 590,910 shares of the company’s stock worth $78,154,000 after buying an additional 567,563 shares in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.

A number of equities research analysts have issued reports on PEP shares. Truist increased their price target on PepsiCo from $130.00 to $135.00 in a research note on Friday, October 2nd. BidaskClub upgraded PepsiCo from a “sell” rating to a “hold” rating in a research report on Thursday. UBS Group raised their price objective on PepsiCo from $140.00 to $146.00 in a research report on Friday, October 2nd. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $148.00 to $169.00 in a research report on Monday, October 12th. Finally, Morgan Stanley raised their price objective on PepsiCo from $155.00 to $158.00 and gave the company an “overweight” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. PepsiCo presently has an average rating of “Buy” and an average target price of $144.13.

Shares of NASDAQ:PEP opened at $133.99 on Friday. The firm has a market cap of $185.17 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 3.90 and a beta of 0.57. The firm’s 50 day simple moving average is $137.14 and its 200-day simple moving average is $134.99. PepsiCo, Inc. has a one year low of $101.42 and a one year high of $147.20. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.77 and a current ratio of 0.93.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, October 1st. The company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.17. The business had revenue of $18.09 billion for the quarter, compared to analyst estimates of $17.24 billion. PepsiCo had a net margin of 10.27% and a return on equity of 56.28%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.56 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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