Connable Office Inc. Has $2.70 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Connable Office Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,861 shares of the company’s stock after purchasing an additional 89 shares during the period. Connable Office Inc.’s holdings in PepsiCo were worth $2,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PEP. Trillium Asset Management LLC increased its stake in PepsiCo by 5.5% during the 1st quarter. Trillium Asset Management LLC now owns 3,370 shares of the company’s stock worth $590,000 after acquiring an additional 177 shares during the period. M&G Plc acquired a new stake in shares of PepsiCo during the 1st quarter worth $72,020,000. Mizuho Markets Americas LLC increased its position in shares of PepsiCo by 114.1% in the first quarter. Mizuho Markets Americas LLC now owns 60,479 shares of the company’s stock worth $10,584,000 after purchasing an additional 32,236 shares during the period. Councilmark Asset Management LLC acquired a new position in PepsiCo in the first quarter valued at about $754,000. Finally, Nicolet Advisory Services LLC lifted its position in PepsiCo by 1.1% during the first quarter. Nicolet Advisory Services LLC now owns 40,851 shares of the company’s stock worth $6,970,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $165.15 on Friday. The stock has a market cap of $226.58 billion, a P/E ratio of 24.36, a P/E/G ratio of 3.07 and a beta of 0.53. The business’s fifty day moving average is $171.48 and its 200 day moving average is $171.72. 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 12-month low of $158.03 and a 12-month high of $183.41.

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

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Barclays decreased 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. One equities research 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.com, the stock currently has a consensus rating of “Hold” and a consensus 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.