Heritage Investment Group Inc. Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Heritage Investment Group Inc. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,751 shares of the company’s stock after buying an additional 193 shares during the quarter. Heritage Investment Group Inc.’s holdings in PepsiCo were worth $468,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter worth about $28,000. POM Investment Strategies LLC grew 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 worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the second quarter worth about $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 4.0 %

Shares of NASDAQ PEP traded down $6.53 during trading on Friday, hitting $158.62. 9,108,948 shares of the company traded hands, compared to its average volume of 5,466,003. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a 50-day moving average price of $170.82 and a 200-day moving average price of $171.56. The firm has a market capitalization of $217.63 billion, a P/E ratio of 23.40, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping 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 analysts’ expectations of $23.86 billion. During the same period in the prior year, the company earned $2.25 EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on PEP. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. 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 report on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $183.92.

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.