PepsiCo, Inc. $PEP Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 14.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,378 shares of the company’s stock after selling 5,189 shares during the quarter. First Horizon Advisors Inc.’s holdings in PepsiCo were worth $4,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PEP. Claris Advisors LLC MO grew its holdings in shares of PepsiCo by 14.1% in the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after purchasing an additional 308 shares in the last quarter. Foster Group Inc. grew its stake in shares of PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after acquiring an additional 229 shares in the last quarter. Ignite Planners LLC grew its stake in shares of PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock worth $566,000 after acquiring an additional 151 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after acquiring an additional 36,239 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after purchasing an additional 620 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEP has been the subject of several analyst reports. Barclays boosted their target price on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Jefferies Financial Group boosted their price objective on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a report on Tuesday, October 21st. Wells Fargo & Company boosted their price target on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Finally, Bank of America boosted their target price on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $156.95.

PepsiCo Trading Down 0.0%

NASDAQ PEP opened at $142.86 on Thursday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm’s fifty day moving average price is $145.53 and its 200 day moving average price is $139.73. The company has a market capitalization of $195.34 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 3.56 and a beta of 0.46. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $167.41.

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