PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,251 shares of the company’s stock after acquiring an additional 1,681 shares during the period. NorthCrest Asset Manangement LLC’s holdings in PepsiCo were worth $21,469,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sageworth Trust Co boosted its holdings in PepsiCo by 10.4% in the third quarter. Sageworth Trust Co now owns 4,007 shares of the company’s stock valued at $681,000 after acquiring an additional 378 shares during the last quarter. Forsta AP Fonden increased its position in shares of PepsiCo by 9.2% during the third quarter. Forsta AP Fonden now owns 374,100 shares of the company’s stock worth $63,616,000 after acquiring an additional 31,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PepsiCo by 9.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 713,597 shares of the company’s stock valued at $121,312,000 after purchasing an additional 58,821 shares during the last quarter. Osborne Partners Capital Management LLC grew its stake in PepsiCo by 0.6% during the 3rd quarter. Osborne Partners Capital Management LLC now owns 63,838 shares of the company’s stock valued at $10,856,000 after purchasing an additional 403 shares in the last quarter. Finally, Middleton & Co. Inc. MA raised its position in shares of PepsiCo by 2.1% in the 3rd quarter. Middleton & Co. Inc. MA now owns 25,507 shares of the company’s stock valued at $4,337,000 after purchasing an additional 518 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded down $0.37 on Friday, hitting $171.79. 4,442,863 shares of the company were exchanged, compared to its average volume of 5,469,759. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company’s 50 day moving average price is $173.87 and its two-hundred day moving average price is $172.23. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The firm has a market capitalization of $236.17 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 3.25 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the company earned $2.25 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

About PepsiCo

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.