Clarity Financial LLC Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Clarity Financial LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,637 shares of the company’s stock after buying an additional 307 shares during the quarter. Clarity Financial LLC’s holdings in PepsiCo were worth $618,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. M&G Plc raised its stake in PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after buying an additional 14,724 shares during the last quarter. OLD Second National Bank of Aurora grew its holdings in shares of PepsiCo by 32.7% in the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock worth $4,079,000 after acquiring an additional 5,737 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of PepsiCo by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock worth $63,853,000 after acquiring an additional 2,976 shares during the period. Viking Fund Management LLC grew its holdings in shares of PepsiCo by 8.2% in the third quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock worth $11,223,000 after acquiring an additional 5,000 shares during the period. Finally, GAMMA Investing LLC grew its holdings in PepsiCo by 50.0% during the second quarter. GAMMA Investing LLC now owns 20,448 shares of the company’s stock valued at $3,372,000 after purchasing an additional 6,813 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Barclays decreased 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 0.5 %

Shares of PEP stock opened at $166.34 on Tuesday. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $172.84 and its two-hundred day simple moving average is $172.20. The company has a market cap of $228.22 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

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

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.