Cheviot Value Management LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cheviot Value Management LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 24,797 shares of the company’s stock after selling 286 shares during the period. Cheviot Value Management LLC’s holdings in PepsiCo were worth $3,674,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. OLD Mission Capital LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth approximately $256,000. Ironwood Wealth Management LLC. grew its stake in shares of PepsiCo by 38.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 1,892 shares of the company’s stock worth $268,000 after buying an additional 525 shares during the last quarter. Quilter Plc grew its stake in shares of PepsiCo by 4.8% in the 1st quarter. Quilter Plc now owns 81,161 shares of the company’s stock worth $11,480,000 after buying an additional 3,687 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of PepsiCo by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 128,813 shares of the company’s stock worth $18,220,000 after buying an additional 9,024 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its stake in shares of PepsiCo by 6.3% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 2,137 shares of the company’s stock worth $302,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.

PEP has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on PepsiCo from $147.00 to $160.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 14th. Cowen reaffirmed a “buy” rating and issued a $165.00 price objective on shares of PepsiCo in a research report on Friday, July 9th. Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $158.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 6th. UBS Group upped their price objective on PepsiCo from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, October 6th. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $160.00 price objective on shares of PepsiCo in a research report on Thursday, October 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $162.86.

Shares of NASDAQ PEP traded down $0.28 during midday trading on Monday, hitting $158.53. 55,665 shares of the stock traded hands, compared to its average volume of 4,888,469. The firm has a 50-day moving average of $155.37 and a two-hundred day moving average of $150.63. The firm has a market capitalization of $219.19 billion, a P/E ratio of 26.68, a PEG ratio of 2.96 and a beta of 0.60. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.70 and a current ratio of 0.91. PepsiCo, Inc. has a one year low of $128.32 and a one year high of $159.66.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Monday, October 4th. The company reported $1.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.06. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. The company had revenue of $20.19 billion for the quarter, compared to analysts’ expectations of $19.39 billion. During the same period last year, the firm earned $1.66 EPS. PepsiCo’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 6.24 earnings per share for the current fiscal year.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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