TCTC Holdings LLC Has $32.75 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

TCTC Holdings LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the third quarter, Holdings Channel.com reports. The firm owned 192,584 shares of the company’s stock after acquiring an additional 497 shares during the quarter. PepsiCo makes up 1.1% of TCTC Holdings LLC’s investment portfolio, making the stock its 24th biggest holding. TCTC Holdings LLC’s holdings in PepsiCo were worth $32,749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. M&G Plc raised its holdings in shares of 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 purchasing an additional 14,724 shares during the period. Fiduciary Family Office LLC grew its position in shares of PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after acquiring an additional 3,727 shares during the period. GFS Advisors LLC lifted its stake in shares of PepsiCo by 13,209.4% during the 3rd quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock valued at $12,290,000 after buying an additional 71,727 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in PepsiCo by 0.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock worth $63,853,000 after purchasing an additional 2,976 shares in the last quarter. Finally, Viking Fund Management LLC lifted its stake in PepsiCo by 8.2% in the 3rd quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock worth $11,223,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent research reports. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Bank of America cut their price target 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. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Up 0.7 %

Shares of PepsiCo stock opened at $165.11 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market capitalization of $226.53 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a 50-day simple moving average of $172.19 and a two-hundred day simple moving average of $171.97.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.25 earnings per share. On average, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Company 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.