PepsiCo, Inc. $PEP Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 28.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 258,949 shares of the company’s stock after selling 101,555 shares during the quarter. Westwood Holdings Group Inc.’s holdings in PepsiCo were worth $34,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PEP. JSF Financial LLC raised its holdings in shares of PepsiCo by 3.8% during the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after acquiring an additional 69 shares during the last quarter. Dogwood Wealth Management LLC raised its stake in PepsiCo by 15.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock valued at $73,000 after purchasing an additional 72 shares during the last quarter. Joel Isaacson & Co. LLC lifted its holdings in PepsiCo by 0.5% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock valued at $2,180,000 after purchasing an additional 74 shares in the last quarter. Bull Street Advisors LLC boosted its stake in PepsiCo by 0.4% during the 2nd quarter. Bull Street Advisors LLC now owns 19,902 shares of the company’s stock worth $2,628,000 after purchasing an additional 74 shares during the last quarter. Finally, Guardian Wealth Advisors LLC raised its position in shares of PepsiCo by 1.6% in the second quarter. Guardian Wealth Advisors LLC now owns 4,562 shares of the company’s stock valued at $602,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. BNP Paribas Exane dropped their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research report on Tuesday, October 21st. HSBC upped their target price on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. Finally, Loop Capital set a $164.00 price objective on shares of PepsiCo in a research report on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $156.95.

PepsiCo Stock Up 0.6%

Shares of PEP opened at $145.85 on Friday. 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 market cap of $199.43 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. The company’s 50-day moving average price is $144.95 and its 200 day moving average price is $140.03. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $165.13.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 EPS. On average, sell-side analysts forecast 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.