Montecito Bank & Trust Has $2.16 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Montecito Bank & Trust increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.9% in the 3rd quarter, Holdings Channel reports. The firm owned 12,698 shares of the company’s stock after purchasing an additional 482 shares during the period. Montecito Bank & Trust’s holdings in PepsiCo were worth $2,159,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. M&G Plc raised its holdings in PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares during the period. OLD Second National Bank of Aurora increased its stake in shares of PepsiCo by 32.7% in the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock worth $4,079,000 after purchasing an additional 5,737 shares during the period. GFS Advisors LLC lifted its position in shares of PepsiCo by 13,209.4% during the 3rd quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock worth $12,290,000 after purchasing an additional 71,727 shares during the last quarter. Fiduciary Family Office LLC grew its holdings in PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after buying an additional 3,727 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in PepsiCo by 0.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock worth $63,853,000 after buying an additional 2,976 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.9 %

Shares of PepsiCo stock opened at $164.71 on Thursday. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The stock has a market capitalization of $225.98 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. The company has a 50-day simple moving average of $172.50 and a 200 day simple moving average of $172.11. 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 (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. PepsiCo’s quarterly 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 fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Barclays cut their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.