Sequoia Financial Advisors LLC Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Sequoia Financial Advisors LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,846 shares of the company’s stock after selling 175 shares during the period. Sequoia Financial Advisors LLC’s holdings in PepsiCo were worth $3,721,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in PepsiCo by 6.0% in the 2nd quarter. Vanguard Group Inc. now owns 124,559,499 shares of the company’s stock valued at $16,474,240,000 after purchasing an additional 7,075,509 shares during the last quarter. State Street Corp boosted its holdings in PepsiCo by 0.4% in the 1st quarter. State Street Corp now owns 66,071,399 shares of the company’s stock worth $7,935,175,000 after acquiring an additional 291,943 shares during the period. California Public Employees Retirement System boosted its holdings in PepsiCo by 4.7% in the 2nd quarter. California Public Employees Retirement System now owns 9,598,484 shares of the company’s stock worth $1,269,495,000 after acquiring an additional 430,695 shares during the period. Swiss National Bank boosted its holdings in PepsiCo by 0.4% in the 2nd quarter. Swiss National Bank now owns 6,514,679 shares of the company’s stock worth $861,631,000 after acquiring an additional 27,400 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in PepsiCo by 161.6% in the 2nd quarter. Nordea Investment Management AB now owns 5,935,150 shares of the company’s stock worth $781,896,000 after acquiring an additional 3,666,099 shares during the period. 70.16% of the stock is owned by hedge funds and other institutional investors.

Shares of PEP stock traded down $2.18 on Monday, hitting $137.38. 211,874 shares of the stock traded hands, compared to its average volume of 5,331,514. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.93 and a quick ratio of 0.77. The company has a market capitalization of $192.87 billion, a PE ratio of 27.04, a PEG ratio of 3.90 and a beta of 0.57. PepsiCo, Inc. has a 1-year low of $101.42 and a 1-year high of $147.20. The company’s fifty day moving average is $137.13 and its 200 day moving average is $134.72.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, October 1st. The company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.17. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The firm had revenue of $18.09 billion for the quarter, compared to analyst estimates of $17.24 billion. During the same period last year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current year.

A number of research firms have weighed in on PEP. Truist upped their price target on PepsiCo from $130.00 to $135.00 in a report on Friday, October 2nd. UBS Group increased their target price on PepsiCo from $140.00 to $146.00 in a research note on Friday, October 2nd. Jefferies Financial Group increased their target price on PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a research note on Thursday, July 9th. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and increased their target price for the company from $148.00 to $169.00 in a research note on Monday, October 12th. Finally, Morgan Stanley increased their target price on PepsiCo from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $144.13.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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