PepsiCo, Inc. $PEP Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,107,392 shares of the company’s stock after selling 5,714 shares during the period. PepsiCo accounts for 3.7% of Yacktman Asset Management LP’s investment portfolio, making the stock its 7th largest holding. Yacktman Asset Management LP owned about 0.15% of PepsiCo worth $278,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Nova Wealth Management Inc. acquired a new position in shares of PepsiCo in the 1st quarter valued at $25,000. Legend Financial Advisors Inc. purchased a new stake in PepsiCo in the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC raised its position in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares during the last quarter. Investment Research & Advisory Group Inc. raised its position in PepsiCo by 263.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares during the last quarter. Finally, RMG Wealth Management LLC purchased a new stake in PepsiCo in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PEP. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Loop Capital set a $164.00 price target on shares of PepsiCo in a research report on Thursday, October 23rd. Citigroup reduced their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. Finally, Morgan Stanley raised their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $156.95.

PepsiCo Price Performance

PepsiCo stock opened at $142.86 on Thursday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $167.41. The firm has a 50 day moving average price of $145.53 and a 200 day moving average price of $139.73. The company has a market cap of $195.34 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 3.56 and a beta of 0.46. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. PepsiCo’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Profile

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.