Maple Capital Management Inc. Sells 3,867 Shares of PepsiCo, Inc. $PEP

Maple Capital Management Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 36.0% in the second quarter, Holdings Channel.com reports. The firm owned 6,871 shares of the company’s stock after selling 3,867 shares during the period. Maple Capital Management Inc.’s holdings in PepsiCo were worth $907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

PEP has been the topic of a number of recent research reports. HSBC lifted their price objective on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. Jefferies Financial Group boosted their price target on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Evercore ISI lifted their price objective on PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Cowen reaffirmed a “hold” rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Royal Bank Of Canada cut their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a report on Monday, September 15th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $156.95.

PepsiCo Price Performance

PEP opened at $145.08 on Wednesday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The company’s 50 day simple moving average is $145.08 and its 200-day simple moving average is $139.84. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $166.88. The stock has a market capitalization of $198.37 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion for 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $2.31 EPS. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Company Profile

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.