PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Hayek Kallen Investment Management

Hayek Kallen Investment Management cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,908 shares of the company’s stock after selling 1,041 shares during the period. PepsiCo comprises 2.2% of Hayek Kallen Investment Management’s portfolio, making the stock its 17th largest position. Hayek Kallen Investment Management’s holdings in PepsiCo were worth $3,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC raised its holdings in shares of PepsiCo by 9,617.2% during the second 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 period. Thoroughbred Financial Services LLC raised its holdings in shares of PepsiCo by 13,410.8% during the second 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 period. California Public Employees Retirement System raised its holdings in shares of PepsiCo by 20.8% during the second 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 period. BlackRock Inc. grew its position in shares of PepsiCo by 1.4% during the second quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock worth $13,422,659,000 after acquiring an additional 1,413,723 shares during the last quarter. Finally, USS Investment Management Ltd bought a new position in shares of PepsiCo during the third quarter worth about $180,697,000. 71.70% of the stock is currently owned by hedge funds and other institutional investors.

PEP has been the subject of several recent research reports. Citigroup upped their price target on shares of PepsiCo from $139.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Deutsche Bank upped their price target on shares of PepsiCo from $141.00 to $142.00 and gave the stock a “hold” rating in a research report on Tuesday, September 24th. BMO Capital Markets reiterated a “market perform” rating and issued a $133.00 target price (up previously from $128.00) on shares of PepsiCo in a research report on Friday, October 4th. ValuEngine lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley reiterated a “buy” rating and issued a $154.00 target price on shares of PepsiCo in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $135.53.

Shares of NASDAQ:PEP traded down $0.19 during trading hours on Friday, hitting $133.13. 2,603,900 shares of the company’s stock traded hands, compared to its average volume of 4,495,963. The company’s fifty day simple moving average is $136.50 and its two-hundred day simple moving average is $132.56. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.95. The company has a market cap of $186.87 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 3.48 and a beta of 0.56. PepsiCo, Inc. has a 52 week low of $105.03 and a 52 week high of $140.45.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.06. The business had revenue of $17.19 billion during the quarter, compared to analyst estimates of $16.93 billion. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. On average, analysts anticipate that PepsiCo, Inc. will post 5.5 EPS for the current fiscal 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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