Broderick Brian C trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,178 shares of the company’s stock after selling 985 shares during the period. Broderick Brian C’s holdings in PepsiCo were worth $3,771,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC boosted its stake in PepsiCo by 141.3% in 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 period. Summit Securities Group LLC purchased a new position in PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Rakuten Securities Inc. raised its stake in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. DZ Bank cut 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. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $183.92.
PepsiCo Trading Up 0.2 %
Shares of NASDAQ:PEP opened at $165.15 on Friday. 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 stock has a market capitalization of $226.58 billion, a PE ratio of 24.36, a P/E/G ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The firm has a fifty day moving average price of $171.48 and a 200 day moving average price of $171.72.
PepsiCo (NASDAQ:PEP – Get Free Report) last released its quarterly earnings results 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company posted $2.25 EPS. The firm’s revenue was down .6% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.
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.
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