Hennion & Walsh Asset Management Inc. Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

Hennion & Walsh Asset Management Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,771 shares of the company’s stock after selling 253 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in PepsiCo were worth $2,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Valued Wealth Advisors LLC boosted its position in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. POM Investment Strategies LLC increased its holdings in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo in the second quarter worth about $30,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo in the first quarter valued at about $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.2 %

Shares of NASDAQ:PEP opened at $171.79 on Friday. The company has a market cap of $236.17 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 3.25 and a beta of 0.53. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The firm has a fifty day moving average price of $173.87 and a two-hundred day moving average price of $172.23. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.25 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PEP shares. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Jefferies Financial Group dropped their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $183.92.

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.