Pathstone Holdings LLC Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Pathstone Holdings LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,480 shares of the company’s stock after buying an additional 13,083 shares during the period. Pathstone Holdings LLC’s holdings in PepsiCo were worth $41,234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc raised its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after acquiring an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the period. Finally, Bank of Montreal Can increased its holdings in PepsiCo by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock valued at $676,036,000 after purchasing an additional 492,888 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.2 %

PEP opened at $158.33 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a one year low of $157.76 and a one year high of $183.41. The company has a market cap of $217.23 billion, a P/E ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53. The business’s 50-day simple moving average is $170.42 and its 200-day simple moving average is $171.38.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.25 earnings per share. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Company Profile

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.