Perkins Coie Trust Co increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,180 shares of the company’s stock after purchasing an additional 1,174 shares during the period. PepsiCo accounts for about 1.9% of Perkins Coie Trust Co’s holdings, making the stock its 11th biggest position. Perkins Coie Trust Co’s holdings in PepsiCo were worth $4,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of PEP. Lord Abbett & CO. LLC grew its stake in shares of PepsiCo by 11.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 775,409 shares of the company’s stock valued at $85,667,000 after buying an additional 78,950 shares during the period. Signet Financial Management LLC lifted its holdings in shares of PepsiCo by 3.7% during the 4th quarter. Signet Financial Management LLC now owns 2,827 shares of the company’s stock valued at $312,000 after acquiring an additional 100 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of PepsiCo during the 4th quarter valued at $273,000. Nomura Holdings Inc. lifted its holdings in shares of PepsiCo by 43.9% during the 4th quarter. Nomura Holdings Inc. now owns 212,755 shares of the company’s stock valued at $23,539,000 after acquiring an additional 64,938 shares in the last quarter. Finally, Foresters Investment Management Company Inc. lifted its holdings in shares of PepsiCo by 5.1% during the 4th quarter. Foresters Investment Management Company Inc. now owns 417,820 shares of the company’s stock valued at $46,161,000 after acquiring an additional 20,150 shares in the last quarter. Hedge funds and other institutional investors own 71.46% of the company’s stock.
PEP stock traded up $0.48 during trading on Friday, reaching $138.37. The stock had a trading volume of 1,110,073 shares, compared to its average volume of 4,508,839. PepsiCo, Inc. has a 1-year low of $104.53 and a 1-year high of $140.45. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $191.37 billion, a P/E ratio of 24.45, a PEG ratio of 3.57 and a beta of 0.56. The firm has a fifty day moving average price of $135.89 and a 200 day moving average price of $130.57.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.06. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The firm had revenue of $17.19 billion for the quarter, compared to analyst estimates of $16.93 billion. During the same quarter in the previous year, the business posted $1.59 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts predict that PepsiCo, Inc. will post 5.5 EPS for the current year.
In related news, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the sale, the chief executive officer now owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is owned by corporate insiders.
Several research firms recently weighed in on PEP. UBS Group lifted their target price on shares of PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Citigroup lifted their target price on shares of PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 4th. BMO Capital Markets restated a “market perform” rating and set a $133.00 target price (up previously from $128.00) on shares of PepsiCo in a report on Friday, October 4th. Jefferies Financial Group lifted their target price on shares of PepsiCo from $123.00 to $134.00 and gave the company a “hold” rating in a report on Wednesday, July 10th. Finally, BidaskClub upgraded shares of PepsiCo from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $135.53.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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