PepsiCo, Inc. (NASDAQ:PEP) Position Lifted by Verity & Verity LLC

Verity & Verity LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 61,384 shares of the company’s stock after acquiring an additional 384 shares during the period. Verity & Verity LLC’s holdings in PepsiCo were worth $10,438,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Meixler Investment Management Ltd. raised its position in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares during the last quarter. Opes Wealth Management LLC lifted its position in PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the period. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton grew its position in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares during the period. Finally, Oxbow Advisors LLC lifted its holdings in PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $158.33 on Tuesday. 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 firm has a market cap of $217.23 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a one year low of $157.76 and a one year high of $183.41. The stock’s 50-day moving average is $170.42 and its 200-day moving average is $171.38.

PepsiCo (NASDAQ:PEP) last released 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 return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PEP shares. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One research 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, PepsiCo presently has a consensus rating of “Hold” and an average target price of $183.92.

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.