Sterling Capital Management LLC Trims Holdings in PepsiCo, Inc. $PEP

Sterling Capital Management LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 20.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 572,972 shares of the company’s stock after selling 148,888 shares during the quarter. PepsiCo makes up 1.1% of Sterling Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Sterling Capital Management LLC’s holdings in PepsiCo were worth $75,655,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the first quarter valued at approximately $25,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo during the second quarter worth approximately $29,000. Frazier Financial Advisors LLC boosted its holdings in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the period. Investment Research & Advisory Group Inc. grew its position in PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares during the last quarter. Finally, RMG Wealth Management LLC purchased a new stake in PepsiCo during the 2nd quarter valued at approximately $45,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.9%

Shares of NASDAQ PEP opened at $141.58 on Friday. The business has a fifty day simple moving average of $145.42 and a 200-day simple moving average of $139.74. The company has a market cap of $193.59 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $166.88. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during 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 company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

Analysts Set New Price Targets

PEP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a research report on Thursday, July 17th. Loop Capital set a $164.00 price target on PepsiCo in a research report on Thursday, October 23rd. Royal Bank Of Canada lowered their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Wells Fargo & Company lifted their price objective on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Finally, UBS Group lowered their price target on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $156.95.

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.