Bridgeworth LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,665 shares of the company’s stock after selling 365 shares during the period. Bridgeworth LLC’s holdings in PepsiCo were worth $228,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Nuveen Asset Management LLC increased its stake in shares of PepsiCo by 9,617.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,770,327 shares of the company’s stock worth $1,281,183,000 after purchasing an additional 9,669,780 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in shares of PepsiCo by 13,410.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock worth $180,626,000 after purchasing an additional 1,792,893 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of PepsiCo by 20.8% during the 2nd quarter. California Public Employees Retirement System now owns 8,887,074 shares of the company’s stock worth $1,165,362,000 after purchasing an additional 1,528,887 shares during the last quarter. BlackRock Inc. increased its stake in shares of PepsiCo by 1.4% during the 2nd quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock worth $13,422,659,000 after purchasing an additional 1,413,723 shares during the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in shares of PepsiCo during the 2nd quarter worth about $16,182,000. 71.67% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Kirk Tanner sold 9,573 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the transaction, the chief executive officer now owns 105,350 shares in the company, valued at approximately $13,500,602.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.28% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on PEP. SunTrust Banks restated a “hold” rating and set a $125.00 price objective on shares of PepsiCo in a research note on Wednesday, July 10th. Citigroup boosted their price objective on shares of PepsiCo from $139.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. BidaskClub upgraded shares of PepsiCo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Cowen boosted their price objective on shares of PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. set a $154.00 price objective on shares of PepsiCo and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $135.53.

PEP traded down $0.45 on Wednesday, reaching $135.88. The company had a trading volume of 284,329 shares, compared to its average volume of 4,259,447. PepsiCo, Inc. has a fifty-two week low of $105.03 and a fifty-two week high of $140.45. The stock has a market cap of $191.93 billion, a P/E ratio of 24.01, a P/E/G ratio of 3.58 and a beta of 0.56. The company’s fifty day moving average is $136.52 and its 200 day moving average is $130.98. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.95.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.06. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The business had revenue of $17.19 billion for the quarter, compared to analyst estimates of $16.93 billion. During the same quarter in the prior year, the business earned $1.59 EPS. PepsiCo’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 5.5 EPS for the current year.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

Further Reading: What is the return on assets (ROA) ratio?

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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