PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,094 shares of the company’s stock after selling 2,406 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in PepsiCo were worth $11,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Valued Wealth Advisors LLC lifted its holdings in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. POM Investment Strategies LLC increased its holdings in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $30,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of PepsiCo in the 1st quarter valued at approximately $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PepsiCo stock opened at $172.95 on Thursday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The stock has a market capitalization of $237.29 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 3.26 and a beta of 0.53. The stock has a fifty day moving average of $173.88 and a 200-day moving average of $172.23.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on PEP shares. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group cut their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

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.