Main Street Financial Solutions LLC Sells 2,119 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Main Street Financial Solutions LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 20.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,209 shares of the company’s stock after selling 2,119 shares during the period. Main Street Financial Solutions LLC’s holdings in PepsiCo were worth $1,396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G Plc boosted its holdings in shares of PepsiCo by 3.6% in the 2nd 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 during the last quarter. Fiduciary Family Office LLC boosted its stake in PepsiCo by 119.6% in the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after acquiring an additional 3,727 shares during the last quarter. GFS Advisors LLC grew its position in shares of PepsiCo by 13,209.4% during the 3rd quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock valued at $12,290,000 after acquiring an additional 71,727 shares during the period. WoodTrust Financial Corp increased its stake in shares of PepsiCo by 5.7% during the 3rd quarter. WoodTrust Financial Corp now owns 64,341 shares of the company’s stock worth $10,941,000 after purchasing an additional 3,465 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of PepsiCo by 0.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock worth $63,853,000 after purchasing an additional 2,976 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent research reports. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Up 0.2 %

Shares of NASDAQ:PEP opened at $164.74 on Thursday. The company has a market cap of $226.02 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The firm has a fifty day moving average price of $171.75 and a two-hundred day moving average price 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.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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. The company 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 firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.