Assenagon Asset Management S.A. Has $142.01 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Assenagon Asset Management S.A. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.9% during the third quarter, HoldingsChannel.com reports. The firm owned 835,123 shares of the company’s stock after selling 194,973 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PepsiCo were worth $142,013,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the period. Valued Wealth Advisors LLC increased its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. POM Investment Strategies LLC raised its position in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the second quarter valued at approximately $34,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent analyst reports. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Down 0.5 %

PepsiCo stock opened at $172.16 on Friday. The company has a fifty day simple moving average of $173.88 and a 200 day simple moving average of $172.23. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a market cap of $236.68 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 3.25 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for 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%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 earnings per share. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

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.