BTR Capital Management Inc. Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

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BTR Capital Management Inc. grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,867 shares of the company’s stock after buying an additional 3,507 shares during the quarter. PepsiCo comprises 3.1% of BTR Capital Management Inc.’s holdings, making the stock its 8th biggest position. BTR Capital Management Inc.’s holdings in PepsiCo were worth $17,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of PepsiCo by 6.0% in the 2nd quarter. Vanguard Group Inc. now owns 124,559,499 shares of the company’s stock worth $16,474,240,000 after purchasing an additional 7,075,509 shares during the last quarter. State Street Corp grew its stake in shares of PepsiCo by 0.4% in the 1st quarter. State Street Corp now owns 66,071,399 shares of the company’s stock worth $7,935,175,000 after purchasing an additional 291,943 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of PepsiCo by 4.7% in the 2nd quarter. California Public Employees Retirement System now owns 9,598,484 shares of the company’s stock worth $1,269,495,000 after purchasing an additional 430,695 shares during the last quarter. Swiss National Bank grew its stake in shares of PepsiCo by 0.4% in the 2nd quarter. Swiss National Bank now owns 6,514,679 shares of the company’s stock worth $861,631,000 after purchasing an additional 27,400 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of PepsiCo by 161.6% in the 2nd quarter. Nordea Investment Management AB now owns 5,935,150 shares of the company’s stock worth $781,896,000 after purchasing an additional 3,666,099 shares during the last quarter. Institutional investors own 70.16% of the company’s stock.

PEP has been the topic of several recent research reports. SunTrust Banks lifted their price objective on shares of PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. BidaskClub downgraded shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Friday, October 9th. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $148.00 to $169.00 in a research report on Monday, October 12th. UBS Group lifted their target price on shares of PepsiCo from $140.00 to $146.00 in a research report on Friday, October 2nd. Finally, Truist lifted their target price on shares of PepsiCo from $130.00 to $135.00 in a research report on Friday, October 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $144.13.

Shares of PEP opened at $141.73 on Friday. The company’s 50 day moving average price is $137.07 and its 200 day moving average price is $134.07. PepsiCo, Inc. has a 52 week low of $101.42 and a 52 week high of $147.20. The company has a market capitalization of $195.86 billion, a PE ratio of 28.98, a PEG ratio of 4.53 and a beta of 0.56. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.79 and a current ratio of 0.97.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, October 1st. The company reported $1.66 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.17. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. The firm had revenue of $18.09 billion for the quarter, compared to the consensus estimate of $17.24 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that PepsiCo, Inc. will post 5.34 earnings per share for the current fiscal year.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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