Daiwa Securities Group Inc. raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,514 shares of the company’s stock after acquiring an additional 5,355 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PepsiCo were worth $8,433,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in PEP. Marietta Wealth Management LLC lifted its holdings in shares of PepsiCo by 3.6% in the 2nd quarter. Marietta Wealth Management LLC now owns 22,145 shares of the company’s stock valued at $2,904,000 after purchasing an additional 763 shares during the last quarter. United Asset Strategies Inc. raised its stake in PepsiCo by 5.6% during the 3rd quarter. United Asset Strategies Inc. now owns 15,266 shares of the company’s stock valued at $2,093,000 after acquiring an additional 816 shares during the last quarter. AQR Capital Management LLC raised its stake in PepsiCo by 27.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,484,704 shares of the company’s stock valued at $456,949,000 after acquiring an additional 754,455 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in PepsiCo by 2.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 677,097 shares of the company’s stock valued at $92,830,000 after acquiring an additional 16,041 shares during the last quarter. Finally, AE Wealth Management LLC raised its stake in PepsiCo by 72.6% during the 2nd quarter. AE Wealth Management LLC now owns 64,904 shares of the company’s stock valued at $8,511,000 after acquiring an additional 27,302 shares during the last quarter. 71.70% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Citigroup upped their price objective on PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Atlantic Securities initiated coverage on PepsiCo in a research note on Monday, July 29th. They set an “overweight” rating and a $145.00 price objective for the company. JPMorgan Chase & Co. set a $154.00 target price on PepsiCo and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Credit Suisse Group boosted their target price on PepsiCo from $117.00 to $126.00 and gave the stock an “underperform” rating in a research report on Friday, October 4th. Finally, Morgan Stanley reiterated a “buy” rating and set a $154.00 target price on shares of PepsiCo in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $135.53.
Shares of PEP traded down $0.22 on Friday, reaching $133.10. The stock had a trading volume of 246,677 shares, compared to its average volume of 3,003,033. The firm has a market capitalization of $186.87 billion, a PE ratio of 23.52, a PEG ratio of 3.48 and a beta of 0.56. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.08. The firm has a 50-day moving average of $136.56 and a 200 day moving average of $132.53. PepsiCo, Inc. has a twelve month low of $105.03 and a twelve month high of $140.45.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 3rd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. The firm had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $16.93 billion. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. PepsiCo’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS. On average, sell-side analysts anticipate 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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