Huntington National Bank Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Huntington National Bank decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.5% in the third quarter, Holdings Channel.com reports. The firm owned 453,417 shares of the company’s stock after selling 21,305 shares during the quarter. Huntington National Bank’s holdings in PepsiCo were worth $77,104,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates lifted its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the third quarter valued at about $28,000. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo during the second quarter worth about $30,000. Finally, Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $164.74 on Thursday. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The firm has a 50-day moving average of $171.75 and a 200-day moving average of $171.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market cap of $226.02 billion, a P/E ratio of 24.30, a P/E/G ratio of 3.06 and a beta of 0.53.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.