PepsiCo, Inc. $PEP Stock Sold by Danske Bank A S

Key Points

• Danske Bank cut its PepsiCo stake by 24.8% in the third quarter, selling 291,888 shares; it retained 883,576 shares valued at about $112 million.
• Analyst sentiment is largely cautious: MarketBeat reports a consensus Hold rating and an average price target of $143.28, with 14 analysts rating the stock Hold.
• PepsiCo beat quarterly earnings and revenue estimates, reporting EPS of $2.34 and revenue of $25.27 billion; revenue rose 5.6% year over year.

Danske Bank A S reduced its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 24.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 883,576 shares of the company's stock after selling 291,888 shares during the quarter. Danske Bank A S owned 0.06% of PepsiCo worth $111,967,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Addison Advisors LLC raised its stake in shares of PepsiCo by 28.6% during the third quarter. Addison Advisors LLC now owns 423 shares of the company's stock worth $54,000 after purchasing an additional 94 shares during the last quarter. Bernicke Wealth Management Ltd. purchased a new position in PepsiCo in the 3rd quarter valued at $729,000. Diversified Trust Co increased its stake in PepsiCo by 57.6% in the 3rd quarter. Diversified Trust Co now owns 141,600 shares of the company's stock valued at $17,944,000 after buying an additional 51,736 shares during the period. Vista Capital Partners Inc. acquired a new position in PepsiCo in the 3rd quarter valued at $215,000. Finally, Financial Freedom LLC acquired a new position in PepsiCo in the 3rd quarter valued at $126,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. TD Cowen reduced their target price on shares of PepsiCo from $145.00 to $133.00 and set a "hold" rating for the company in a research note on Monday, September 28th. Citigroup reaffirmed a "buy" rating on shares of PepsiCo in a report on Friday, October 9th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $138.00 to $137.00 and set a "neutral" rating on the stock in a research note on Friday, October 9th. Morgan Stanley set a $145.00 price target on shares of PepsiCo in a report on Friday, October 9th. Finally, Royal Bank Of Canada reduced their price objective on shares of PepsiCo from $161.00 to $150.00 and set a "sector perform" rating for the company in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, four have given 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, PepsiCo currently has a consensus rating of "Hold" and a consensus price target of $143.28.

Insider Transactions at PepsiCo

In related news, Director Robert Pohlad purchased 184,646 shares of PepsiCo stock in a transaction dated Wednesday, October 14th. The stock was bought at an average cost of $128.28 per share, for a total transaction of $23,686,388.88. Following the transaction, the director owned 433,009 shares in the company, valued at approximately $55,546,394.52. The trade was a 74.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ramon Laguarta sold 30,000 shares of PepsiCo stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $135.13, for a total transaction of $4,053,900.00. Following the sale, the chief executive officer owned 491,645 shares of the company's stock, valued at approximately $66,435,988.85. The trade was a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company's stock.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $3.18 during trading on Friday, hitting $145.44. 7,910,876 shares of the company were exchanged, compared to its average volume of 9,600,079. The company has a market cap of $198.20 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 4.23 and a beta of 0.31. PepsiCo, Inc. has a 1 year low of $123.47 and a 1 year high of $171.48. The firm's fifty day moving average price is $133.64 and its 200 day moving average price is $145.68. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.94 and a quick ratio of 0.76.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 7th. The company reported $2.34 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.05. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The business had revenue of $25.27 billion for the quarter, compared to analysts' expectations of $24.95 billion. During the same period in the prior year, the company posted $2.29 EPS. The business's revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.42 earnings per share for the current fiscal year.

About PepsiCo

PepsiCo, Inc. is a global food and beverage company that develops, manufactures, markets and distributes a broad range of products. Its portfolio includes snacks such as Lay's, Doritos and Cheetos, as well as beverages including Pepsi, Gatorade and Mountain Dew. The company was formed in 1965 through the merger of Pepsi-Cola and Frito-Lay. Its products are sold in more than 200 countries and territories through retail, food-service and other distribution channels. PepsiCo is headquartered in Purchase, New York.

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