Community Trust & Investment Co. Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Community Trust & Investment Co. lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,344 shares of the company’s stock after selling 2,474 shares during the quarter. Community Trust & Investment Co.’s holdings in PepsiCo were worth $9,918,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Marietta Wealth Management LLC lifted its position in shares of PepsiCo by 3.6% during the 2nd quarter. Marietta Wealth Management LLC now owns 22,145 shares of the company’s stock worth $2,904,000 after buying an additional 763 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its position in shares of PepsiCo by 1.3% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 23,826 shares of the company’s stock worth $2,920,000 after buying an additional 296 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of PepsiCo by 27.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,484,704 shares of the company’s stock worth $456,949,000 after buying an additional 754,455 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of PepsiCo by 72.6% during the 2nd quarter. AE Wealth Management LLC now owns 64,904 shares of the company’s stock worth $8,511,000 after buying an additional 27,302 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of PepsiCo by 19.0% during the 2nd quarter. Assetmark Inc. now owns 5,417 shares of the company’s stock worth $710,000 after buying an additional 864 shares during the last quarter. Institutional investors and hedge funds own 71.46% of the company’s stock.

A number of equities analysts have recently weighed in on PEP shares. Jefferies Financial Group upped their price target on shares of PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a research note on Wednesday, July 10th. Citigroup boosted their price objective on shares of PepsiCo from $139.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. SunTrust Banks restated a “hold” rating and issued a $125.00 target price on shares of PepsiCo in a report on Wednesday, July 10th. Deutsche Bank upped their target price on shares of PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a report on Tuesday, September 24th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $133.00 target price (up from $128.00) on shares of PepsiCo in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $135.53.

In other news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the transaction, the chief executive officer now directly owns 105,350 shares in the company, valued at approximately $13,500,602.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Shares of PEP stock traded down $0.22 during trading hours on Friday, hitting $137.67. 63,408 shares of the company were exchanged, compared to its average volume of 4,508,839. The firm has a market cap of $191.37 billion, a PE ratio of 24.34, a PEG ratio of 3.57 and a beta of 0.56. PepsiCo, Inc. has a 1 year low of $104.53 and a 1 year high of $140.45. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.08. The firm has a fifty day moving average of $135.89 and a 200 day moving average of $130.57.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.06. The business had revenue of $17.19 billion for the quarter, compared to analyst estimates of $16.93 billion. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 EPS. Analysts expect that PepsiCo, Inc. will post 5.5 earnings per share for the current year.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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