PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the third quarter, Holdings Channel.com reports. The fund owned 405,586 shares of the company’s stock after purchasing an additional 2,103 shares during the quarter. PepsiCo accounts for 1.3% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 9th largest holding. Kornitzer Capital Management Inc. KS’s holdings in PepsiCo were worth $68,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Meixler Investment Management Ltd. grew its position in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares during the last quarter. Opes Wealth Management LLC grew its position in PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after acquiring an additional 59 shares during the last quarter. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Bank of Stockton boosted its position in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after buying an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC boosted its position in PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after buying an additional 60 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.0 %

PEP stock traded down $0.05 during midday trading on Thursday, hitting $164.66. 550,993 shares of the company’s stock were exchanged, compared to its average volume of 5,445,567. The stock’s fifty day moving average price is $172.50 and its 200-day moving average price is $172.11. 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 has a market cap of $225.91 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.25 earnings per share. Research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PEP shares. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Wells Fargo & Company decreased their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research 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 issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo 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.