Cross Staff Investments Inc Grows Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cross Staff Investments Inc lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,080 shares of the company’s stock after purchasing an additional 60 shares during the quarter. Cross Staff Investments Inc’s holdings in PepsiCo were worth $1,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC grew its stake in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the last quarter. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. POM Investment Strategies LLC grew its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter valued at approximately $30,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $35,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.5 %

Shares of NASDAQ PEP opened at $172.16 on Friday. The firm has a market cap of $236.68 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 3.25 and a beta of 0.53. The company’s 50-day simple moving average is $173.88 and its 200-day simple moving average is $172.23. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on PEP shares. Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. dropped their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $183.92.

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.