PepsiCo, Inc. $PEP Stock Holdings Cut by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% during the 2nd quarter, Holdings Channel reports. The firm owned 83,391 shares of the company’s stock after selling 1,842 shares during the period. PepsiCo comprises 1.2% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 20th largest position. Van Cleef Asset Management Inc’s holdings in PepsiCo were worth $11,011,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after buying an additional 6,574 shares in the last quarter. Allworth Financial LP lifted its position in shares of PepsiCo by 10.8% during the 1st quarter. Allworth Financial LP now owns 74,002 shares of the company’s stock valued at $11,096,000 after acquiring an additional 7,218 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of PepsiCo by 1.8% during the 1st quarter. Alps Advisors Inc. now owns 43,657 shares of the company’s stock worth $6,546,000 after acquiring an additional 780 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of PepsiCo in the 1st quarter worth $90,000. Finally, Cerity Partners LLC raised its position in shares of PepsiCo by 7.4% during the first quarter. Cerity Partners LLC now owns 962,264 shares of the company’s stock worth $144,267,000 after purchasing an additional 66,336 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PEP shares. Wells Fargo & Company increased their price target on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Morgan Stanley raised their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. The Goldman Sachs Group lifted their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Finally, Rothschild & Co Redburn lifted their price objective on shares of PepsiCo from $115.00 to $117.00 and gave the stock a “sell” rating in a research report on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo Stock Performance

PEP stock opened at $142.95 on Friday. The firm has a 50 day simple moving average of $145.31 and a 200 day simple moving average of $139.75. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $166.88. The stock has a market cap of $195.46 billion, a P/E ratio of 27.18, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91.

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 the consensus estimate of $2.26 by $0.03. The firm had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

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.