Townsend & Associates Inc Acquires 13,089 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Townsend & Associates Inc lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 328.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,072 shares of the company’s stock after acquiring an additional 13,089 shares during the period. Townsend & Associates Inc’s holdings in PepsiCo were worth $2,953,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Global Wealth Strategies & Associates grew its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at about $28,000. POM Investment Strategies LLC lifted its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.7 %

PEP stock opened at $165.11 on Friday. The stock has a market capitalization of $226.53 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $172.19 and a 200-day moving average price of $171.97. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share 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 the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $2.25 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on PEP shares. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a report on Friday, July 19th. Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. 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 report on Friday, September 20th. JPMorgan Chase & Co. decreased their price target 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, Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.