Crestwood Advisors Group LLC Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Crestwood Advisors Group LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the third quarter, HoldingsChannel.com reports. The fund owned 75,992 shares of the company’s stock after buying an additional 450 shares during the period. Crestwood Advisors Group LLC’s holdings in PepsiCo were worth $12,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in PEP. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at about $28,000. POM Investment Strategies LLC boosted its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded up $0.06 during midday trading on Tuesday, hitting $166.40. The company’s stock had a trading volume of 175,286 shares, compared to its average volume of 5,440,835. The company has a market cap of $228.30 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The business’s 50 day simple moving average is $172.84 and its 200 day simple moving average is $172.20. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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

Analyst Upgrades and Downgrades

PEP has been the subject of several recent research reports. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo presently has an average 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.