Sterling Capital Management LLC Sells 148,888 Shares of PepsiCo, Inc. $PEP

Sterling Capital Management LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 20.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 572,972 shares of the company’s stock after selling 148,888 shares during the quarter. PepsiCo comprises 1.1% of Sterling Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Sterling Capital Management LLC’s holdings in PepsiCo were worth $75,655,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PEP. Nvwm LLC lifted its stake in PepsiCo by 23.1% in the 2nd quarter. Nvwm LLC now owns 11,322 shares of the company’s stock valued at $1,495,000 after purchasing an additional 2,126 shares during the last quarter. Ipsen Advisor Group LLC boosted its position in shares of PepsiCo by 126.6% in the second quarter. Ipsen Advisor Group LLC now owns 7,191 shares of the company’s stock valued at $950,000 after acquiring an additional 4,017 shares during the period. Paulson Wealth Management Inc. grew its position in shares of PepsiCo by 7.2% during the 2nd quarter. Paulson Wealth Management Inc. now owns 3,323 shares of the company’s stock worth $439,000 after purchasing an additional 223 shares in the last quarter. Atlas Legacy Advisors LLC raised its holdings in PepsiCo by 39.7% in the 2nd quarter. Atlas Legacy Advisors LLC now owns 1,993 shares of the company’s stock valued at $263,000 after acquiring an additional 566 shares in the last quarter. Finally, Savant Capital LLC lifted its position in PepsiCo by 27.7% during the second quarter. Savant Capital LLC now owns 127,715 shares of the company’s stock worth $16,864,000 after purchasing an additional 27,721 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Loop Capital set a $164.00 target price on shares of PepsiCo in a research note on Thursday, October 23rd. Jefferies Financial Group boosted their target price on shares of PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a report on Friday, October 10th. UBS Group cut their target price on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. BNP Paribas Exane lowered their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of PepsiCo in a research report on Thursday, July 17th. Seven 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $156.95.

PepsiCo Stock Down 0.9%

Shares of NASDAQ PEP opened at $141.58 on Friday. The stock has a market capitalization of $193.59 billion, a P/E ratio of 26.92, a PEG ratio of 3.56 and a beta of 0.45. The firm’s 50 day simple moving average is $145.42 and its two-hundred day simple moving average is $139.74. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $166.88. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

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.