Connable Office Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) 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.
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.
Check Out Our Latest Analysis on PEP
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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