Jensen Investment Management Inc. Trims Stock Holdings in PepsiCo, Inc. $PEP

Jensen Investment Management Inc. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 90.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,162 shares of the company’s stock after selling 967,793 shares during the period. Jensen Investment Management Inc.’s holdings in PepsiCo were worth $13,754,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PEP. Avantax Advisory Services Inc. boosted its position in PepsiCo by 2.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after acquiring an additional 4,627 shares in the last quarter. ProVise Management Group LLC boosted its holdings in shares of PepsiCo by 14.3% during the 2nd quarter. ProVise Management Group LLC now owns 28,972 shares of the company’s stock valued at $3,825,000 after buying an additional 3,634 shares in the last quarter. Intech Investment Management LLC grew its position in shares of PepsiCo by 37.2% in the 2nd quarter. Intech Investment Management LLC now owns 82,036 shares of the company’s stock worth $10,832,000 after buying an additional 22,262 shares during the period. WealthTrust Asset Management LLC increased its stake in shares of PepsiCo by 4.0% in the 2nd quarter. WealthTrust Asset Management LLC now owns 6,026 shares of the company’s stock worth $796,000 after acquiring an additional 230 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in PepsiCo by 0.7% in the second quarter. Cetera Investment Advisers now owns 493,490 shares of the company’s stock worth $65,161,000 after acquiring an additional 3,646 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PEP shares. HSBC increased their target price on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Barclays raised their price target on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Evercore ISI upped their price objective on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. UBS Group dropped their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Finally, Rothschild & Co Redburn upped their price target on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research report on Monday, October 13th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $156.95.

PepsiCo Trading Up 0.6%

PEP stock opened at $145.85 on Friday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $165.13. The firm’s fifty day simple moving average is $144.95 and its two-hundred day simple moving average is $140.03. The stock has a market capitalization of $199.43 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last announced 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 company had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same quarter last year, the business posted $2.31 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current 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.