Calamos Advisors LLC Sells 48,912 Shares of PepsiCo, Inc. $PEP

Calamos Advisors LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 19.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,908 shares of the company’s stock after selling 48,912 shares during the period. Calamos Advisors LLC’s holdings in PepsiCo were worth $26,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nuveen LLC bought a new position in PepsiCo in the first quarter worth approximately $946,978,000. Kingstone Capital Partners Texas LLC bought a new position in shares of PepsiCo in the 2nd quarter worth $460,110,000. Acadian Asset Management LLC grew its position in PepsiCo by 175.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,969,635 shares of the company’s stock valued at $392,076,000 after purchasing an additional 1,892,469 shares during the period. Vanguard Group Inc. increased its stake in PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after buying an additional 1,258,198 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $144.39 on Thursday. The business’s fifty day simple moving average is $145.00 and its 200 day simple moving average is $139.87. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $166.88. The firm has a market capitalization of $197.43 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $2.31 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEP. Loop Capital set a $164.00 target price on shares of PepsiCo in a research report on Thursday, October 23rd. HSBC lifted their price target on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Wells Fargo & Company lifted their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Finally, DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research report on Tuesday, October 21st. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $156.95.

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.