Suncoast Equity Management Sells 13,490 Shares of PepsiCo, Inc. $PEP

Suncoast Equity Management lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 87.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,851 shares of the company’s stock after selling 13,490 shares during the period. Suncoast Equity Management’s holdings in PepsiCo were worth $244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Summit Wealth Group LLC lifted its stake in shares of PepsiCo by 5.2% in the 2nd quarter. Summit Wealth Group LLC now owns 2,483 shares of the company’s stock valued at $328,000 after acquiring an additional 123 shares during the last quarter. Brooktree Capital Management bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $462,000. Resona Asset Management Co. Ltd. lifted its stake in shares of PepsiCo by 5.2% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 562,959 shares of the company’s stock valued at $74,246,000 after acquiring an additional 27,755 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in PepsiCo by 65.6% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 122,577 shares of the company’s stock valued at $16,185,000 after purchasing an additional 48,572 shares during the last quarter. Finally, SP Asset Management LLC raised its position in PepsiCo by 0.4% during the 2nd quarter. SP Asset Management LLC now owns 30,162 shares of the company’s stock valued at $3,983,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $142.86 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $195.34 billion, a P/E ratio of 27.16, a PEG ratio of 3.56 and a beta of 0.46. The stock’s 50 day moving average is $145.53 and its 200 day moving average is $139.73. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $167.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BNP Paribas Exane lowered their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. The Goldman Sachs Group upped their price target on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Royal Bank Of Canada lowered their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Jefferies Financial Group upped their price target on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, UBS Group lowered their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $156.95.

PepsiCo Company 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.