Haverford Financial Services Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,536 shares of the company’s stock after selling 906 shares during the period. PepsiCo accounts for approximately 4.4% of Haverford Financial Services Inc.’s holdings, making the stock its 5th biggest holding. Haverford Financial Services Inc.’s holdings in PepsiCo were worth $13,098,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in PEP. Vanguard Group Inc. increased its holdings in shares of PepsiCo by 0.7% during the second quarter. Vanguard Group Inc. now owns 114,097,547 shares of the company’s stock valued at $14,961,613,000 after acquiring an additional 838,652 shares in the last quarter. BlackRock Inc. increased its stake in PepsiCo by 1.4% in the 2nd quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock worth $13,422,659,000 after acquiring an additional 1,413,723 shares during the last quarter. Northern Trust Corp increased its stake in PepsiCo by 0.7% in the 2nd quarter. Northern Trust Corp now owns 20,818,749 shares of the company’s stock worth $2,729,962,000 after acquiring an additional 143,784 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of PepsiCo by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,884,685 shares of the company’s stock valued at $2,607,480,000 after purchasing an additional 378,960 shares during the last quarter. Finally, Morgan Stanley grew its position in PepsiCo by 1.1% during the 2nd quarter. Morgan Stanley now owns 11,058,425 shares of the company’s stock worth $1,450,090,000 after acquiring an additional 117,564 shares during the last quarter. 71.70% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on the company. Atlantic Securities began coverage on PepsiCo in a research report on Monday, July 29th. They set an “overweight” rating and a $145.00 price objective for the company. Deutsche Bank boosted their price objective on PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a research report on Tuesday, September 24th. BMO Capital Markets reissued a “market perform” rating and set a $133.00 price objective (up from $128.00) on shares of PepsiCo in a research note on Friday, October 4th. BidaskClub lowered PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Credit Suisse Group raised their price target on shares of PepsiCo from $117.00 to $126.00 and gave the stock an “underperform” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. PepsiCo has an average rating of “Hold” and a consensus target price of $135.53.
Shares of PepsiCo stock traded down $0.19 during trading on Friday, hitting $133.13. 2,603,061 shares of the stock traded hands, compared to its average volume of 4,495,959. The firm’s fifty day moving average is $136.56 and its 200-day moving average is $132.53. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.08. PepsiCo, Inc. has a 52 week low of $105.03 and a 52 week high of $140.45. The stock has a market cap of $186.87 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 3.48 and a beta of 0.56.
PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.06. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. The company had revenue of $17.19 billion for the quarter, compared to the consensus estimate of $16.93 billion. During the same period in the previous year, the business earned $1.59 earnings per share. PepsiCo’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that PepsiCo, Inc. will post 5.5 earnings per share for the current fiscal year.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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