Coastline Trust Co lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,949 shares of the company’s stock after selling 330 shares during the quarter. Coastline Trust Co’s holdings in PepsiCo were worth $3,735,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in PEP. Vanguard Group Inc. lifted its stake in 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 in the last quarter. Nordea Investment Management AB raised its position in shares of PepsiCo by 161.6% during the 2nd quarter. Nordea Investment Management AB now owns 5,935,150 shares of the company’s stock valued at $781,896,000 after buying an additional 3,666,099 shares in the last quarter. Capital International Investors purchased a new stake in shares of PepsiCo during the 1st quarter valued at about $227,508,000. Two Sigma Advisers LP raised its position in shares of PepsiCo by 211.7% during the 2nd quarter. Two Sigma Advisers LP now owns 2,133,685 shares of the company’s stock valued at $282,201,000 after buying an additional 1,449,200 shares in the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in shares of PepsiCo during the 1st quarter valued at about $55,808,000. Institutional investors and hedge funds own 70.16% of the company’s stock.
Shares of PEP stock opened at $141.73 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.97 and a quick ratio of 0.79. The company has a market capitalization of $195.86 billion, a P/E ratio of 28.98, a P/E/G ratio of 4.53 and a beta of 0.56. The company’s 50-day simple moving average is $137.07 and its two-hundred day simple moving average is $134.07. PepsiCo, Inc. has a one year low of $101.42 and a one year high of $147.20.
PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, October 1st. The company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.17. The business had revenue of $18.09 billion for the quarter, compared to the consensus estimate of $17.24 billion. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 EPS. On average, research analysts expect that PepsiCo, Inc. will post 5.34 EPS for the current fiscal year.
Several analysts have recently issued reports on PEP shares. UBS Group upped their target price on shares of PepsiCo from $140.00 to $146.00 in a research report on Friday, October 2nd. Jefferies Financial Group upped their target price on shares of PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their target price for the company from $148.00 to $169.00 in a research report on Monday, October 12th. BidaskClub cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Friday, October 9th. Finally, Morgan Stanley upped their price target on shares of PepsiCo from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $144.13.
PepsiCo Company Profile
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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