Waverton Investment Management Ltd Sells 69,864 Shares of PepsiCo, Inc. $PEP

Waverton Investment Management Ltd lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.5% during the second quarter, Holdings Channel.com reports. The firm owned 214,780 shares of the company’s stock after selling 69,864 shares during the period. Waverton Investment Management Ltd’s holdings in PepsiCo were worth $28,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after acquiring an additional 1,258,198 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of PepsiCo by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock worth $1,728,180,000 after acquiring an additional 208,292 shares during the last quarter. Invesco Ltd. raised its holdings in shares of PepsiCo by 4.5% in the 1st quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock worth $1,698,544,000 after acquiring an additional 491,894 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of PepsiCo by 9.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,878,718 shares of the company’s stock worth $1,631,155,000 after acquiring an additional 923,766 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research note on Thursday, October 23rd. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research note on Tuesday, October 21st. Royal Bank Of Canada decreased their price objective on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research note on Monday, September 15th. Finally, Bank of America increased their target price on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Down 0.0%

PepsiCo stock opened at $142.86 on Thursday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $167.41. The firm has a market capitalization of $195.34 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 3.56 and a beta of 0.46. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The firm has a 50 day simple moving average of $145.53 and a 200 day simple moving average of $139.73.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share 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 business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same period in the previous year, the business earned $2.31 EPS. PepsiCo’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current 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.