Haverford Financial Services Inc. Lowers Stock Position in PepsiCo, Inc. $PEP

Haverford Financial Services Inc. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.8% during the second quarter, Holdings Channel.com reports. The fund owned 58,474 shares of the company’s stock after selling 7,084 shares during the period. PepsiCo accounts for about 2.3% of Haverford Financial Services Inc.’s investment portfolio, making the stock its 21st biggest position. Haverford Financial Services Inc.’s holdings in PepsiCo were worth $7,721,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Vanguard Group Inc. lifted its stake in PepsiCo by 1.3% during the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after purchasing an additional 1,761,785 shares in the last quarter. Geode Capital Management LLC lifted its stake in PepsiCo by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock worth $4,301,240,000 after acquiring an additional 86,695 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after acquiring an additional 1,258,198 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PepsiCo by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock valued at $1,728,180,000 after acquiring an additional 208,292 shares in the last quarter. Finally, Invesco Ltd. increased its stake in PepsiCo by 4.5% during the first quarter. Invesco Ltd. now owns 11,328,158 shares of the company’s stock worth $1,698,544,000 after purchasing an additional 491,894 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PEP. Rothschild & Co Redburn lifted their price objective on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a report on Monday, October 13th. Jefferies Financial Group boosted their price target on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Citigroup cut their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a report on Tuesday, October 21st. Finally, HSBC upped their price target on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.95.

PepsiCo Price Performance

PepsiCo stock opened at $148.77 on Wednesday. The stock has a market cap of $203.42 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. The company has a fifty day simple moving average of $145.19 and a 200-day simple moving average of $140.27. 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 $165.13.

PepsiCo (NASDAQ:PEP) last announced its quarterly 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 return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 EPS. Equities analysts expect that PepsiCo, Inc. will post 8.3 EPS 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.