Wealth Alliance LLC Cuts Holdings in PepsiCo, Inc. $PEP

Wealth Alliance LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,159 shares of the company’s stock after selling 1,065 shares during the quarter. Wealth Alliance LLC’s holdings in PepsiCo were worth $2,794,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PEP. Vanguard Group Inc. increased its holdings in PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after buying an additional 1,802,748 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after purchasing an additional 1,258,198 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PepsiCo by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock valued at $1,728,180,000 after purchasing an additional 208,292 shares during the last quarter. Invesco Ltd. raised its holdings in PepsiCo by 4.5% during the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock worth $1,698,544,000 after purchasing an additional 491,894 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of PepsiCo by 14.3% during the 1st quarter. Deutsche Bank AG now owns 9,296,022 shares of the company’s stock worth $1,393,846,000 after buying an additional 1,165,745 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. BNP Paribas Exane cut 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. The Goldman Sachs Group upped their target price on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Wells Fargo & Company lifted their price objective on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. reduced their price objective on PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $156.95.

PepsiCo Trading Up 1.7%

NASDAQ:PEP opened at $145.08 on Wednesday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $166.88. 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 stock has a fifty day simple moving average of $145.08 and a 200-day simple moving average of $139.84. The company has a market capitalization of $198.37 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during 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%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 earnings per share. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

About PepsiCo

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.