Valley Wealth Managers Inc. Sells 100 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Valley Wealth Managers Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,294 shares of the company’s stock after selling 100 shares during the quarter. Valley Wealth Managers Inc.’s holdings in PepsiCo were worth $3,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. M&G Plc grew its holdings in PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after buying an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc grew its holdings in PepsiCo by 3.5% during the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after buying an additional 4,547 shares in the last quarter. Fiduciary Family Office LLC boosted its position in PepsiCo by 119.6% in the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,727 shares during the last quarter. GFS Advisors LLC boosted its position in PepsiCo by 13,209.4% in the third quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock worth $12,290,000 after purchasing an additional 71,727 shares during the last quarter. Finally, Empower Advisory Group LLC boosted its position in PepsiCo by 4.6% in the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock worth $64,432,000 after purchasing an additional 16,523 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.9 %

PEP stock traded down $3.06 during trading on Friday, hitting $162.09. 919,461 shares of the company traded hands, compared to its average volume of 5,429,187. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market capitalization of $222.39 billion, a PE ratio of 23.91, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a 50-day moving average of $171.19 and a 200-day moving average of $171.68.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on PEP. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.92.

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.