Commonwealth Equity Services LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 592,896 shares of the company’s stock after acquiring an additional 17,754 shares during the period. Commonwealth Equity Services LLC’s holdings in PepsiCo were worth $64,549,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Fiera Capital Corp increased its holdings in PepsiCo by 5.3% in the 1st quarter. Fiera Capital Corp now owns 3,512,114 shares of the company’s stock worth $383,347,000 after buying an additional 177,748 shares during the period. Fort Point Capital Partners LLC increased its holdings in PepsiCo by 53.2% in the 4th quarter. Fort Point Capital Partners LLC now owns 3,683 shares of the company’s stock worth $444,000 after buying an additional 1,279 shares during the period. Bruderman Asset Management LLC increased its holdings in PepsiCo by 3.9% in the 1st quarter. Bruderman Asset Management LLC now owns 59,583 shares of the company’s stock worth $6,503,000 after buying an additional 2,255 shares during the period. Patriot Wealth Management Inc. grew its stake in shares of PepsiCo by 3.1% during the 2nd quarter. Patriot Wealth Management Inc. now owns 43,785 shares of the company’s stock worth $4,767,000 after purchasing an additional 1,297 shares during the period. Finally, World Asset Management Inc grew its stake in shares of PepsiCo by 2.9% during the 2nd quarter. World Asset Management Inc now owns 102,760 shares of the company’s stock worth $11,187,000 after purchasing an additional 2,917 shares during the period. Institutional investors and hedge funds own 70.45% of the company’s stock.
NASDAQ:PEP traded up $0.22 during trading hours on Friday, reaching $105.28. 4,352,394 shares of the stock were exchanged, compared to its average volume of 5,014,748. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 3.00. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51. The company has a market cap of $158.12 billion, a PE ratio of 20.13, a P/E/G ratio of 2.63 and a beta of 0.67.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. The business had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.38 billion. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 5.69 EPS for the current fiscal year.
A number of research analysts have weighed in on the company. BidaskClub lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. ValuEngine raised PepsiCo from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Guggenheim initiated coverage on PepsiCo in a research report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 target price for the company. Finally, Susquehanna Bancshares dropped their target price on PepsiCo from $136.00 to $135.00 and set a “positive” rating on the stock in a report on Friday, September 28th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $117.89.
In related news, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $106.79, for a total value of $587,345.00. Following the sale, the chief executive officer now owns 130,135 shares of the company’s stock, valued at approximately $13,897,116.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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