Balentine LLC Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Balentine LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 34.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,384 shares of the company’s stock after purchasing an additional 2,399 shares during the period. Balentine LLC’s holdings in PepsiCo were worth $1,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. HF Advisory Group LLC acquired a new position in shares of PepsiCo in the third quarter worth about $403,000. Fiduciary Family Office LLC increased its holdings in PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,727 shares during the last quarter. Austin Private Wealth LLC raised its position in shares of PepsiCo by 2.5% in the 3rd quarter. Austin Private Wealth LLC now owns 4,003 shares of the company’s stock valued at $681,000 after purchasing an additional 97 shares in the last quarter. Crestwood Advisors Group LLC grew its position in shares of PepsiCo by 0.6% during the third quarter. Crestwood Advisors Group LLC now owns 75,992 shares of the company’s stock worth $12,922,000 after buying an additional 450 shares in the last quarter. Finally, Heritage Investors Management Corp increased its stake in shares of PepsiCo by 3.6% in the third quarter. Heritage Investors Management Corp now owns 116,977 shares of the company’s stock worth $19,892,000 after buying an additional 4,097 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

Shares of PEP stock opened at $167.85 on Wednesday. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a 50 day moving average of $172.69 and a two-hundred day moving average of $172.16. The company has a market capitalization of $230.29 billion, a P/E ratio of 24.76, a P/E/G ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. The company 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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.25 earnings per share. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

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.