Heritage Investors Management Corp Buys 4,097 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Heritage Investors Management Corp raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.6% in the third quarter, Holdings Channel reports. The institutional investor owned 116,977 shares of the company’s stock after buying an additional 4,097 shares during the quarter. Heritage Investors Management Corp’s holdings in PepsiCo were worth $19,892,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC lifted its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the second quarter valued at $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the 2nd quarter worth about $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $0.14 during mid-day trading on Tuesday, reaching $166.20. The stock had a trading volume of 191,362 shares, compared to its average volume of 5,440,911. The company has a market cap of $228.02 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The business’s 50 day moving average price is $172.84 and its 200 day moving average price is $172.20. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on PEP shares. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Jefferies Financial Group reduced their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada dropped their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

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.