Villere ST Denis J & Co. LLC Decreases Position in PepsiCo, Inc. (NASDAQ:PEP)

Villere ST Denis J & Co. LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,980 shares of the company’s stock after selling 9,210 shares during the quarter. PepsiCo makes up approximately 1.0% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 25th largest holding. Villere ST Denis J & Co. LLC’s holdings in PepsiCo were worth $15,381,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV purchased a new position in PepsiCo in the 2nd quarter worth approximately $26,000. Evolution Wealth Advisors LLC lifted its stake in PepsiCo by 342.2% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 283 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares in the last quarter. RPG Investment Advisory LLC lifted its stake in PepsiCo by 191.0% in the 2nd quarter. RPG Investment Advisory LLC now owns 291 shares of the company’s stock worth $38,000 after purchasing an additional 191 shares in the last quarter. Marquette Asset Management LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $40,000. Finally, Ellevest Inc. lifted its stake in PepsiCo by 144.7% in the 2nd quarter. Ellevest Inc. now owns 367 shares of the company’s stock worth $49,000 after purchasing an additional 217 shares in the last quarter. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

PEP has been the topic of a number of research reports. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and raised their target price for the stock from $148.00 to $169.00 in a research note on Monday, October 12th. BidaskClub raised shares of PepsiCo from a “sell” rating to a “hold” rating in a research report on Thursday. Truist lifted their price target on shares of PepsiCo from $130.00 to $135.00 in a research report on Friday, October 2nd. Jefferies Financial Group lifted their price target on shares of PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Finally, Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price target on the stock. in a research report on Friday, September 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $144.13.

Shares of PEP stock opened at $133.99 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.77 and a debt-to-equity ratio of 2.79. The firm has a fifty day moving average price of $137.14 and a 200 day moving average price of $134.99. The company has a market cap of $185.17 billion, a P/E ratio of 26.53, a PEG ratio of 3.90 and a beta of 0.57. PepsiCo, Inc. has a 12 month low of $101.42 and a 12 month high of $147.20.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, October 1st. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.17. PepsiCo had a net margin of 10.27% and a return on equity of 56.28%. The firm had revenue of $18.09 billion during the quarter, compared to analysts’ expectations of $17.24 billion. During the same period in the previous year, the company earned $1.56 earnings per share. PepsiCo’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that PepsiCo, Inc. will post 5.51 EPS for the current year.

About PepsiCo

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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