Cornercap Investment Counsel Inc. Acquires Shares of 11,250 PepsiCo, Inc. $PEP

Cornercap Investment Counsel Inc. acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 11,250 shares of the company’s stock, valued at approximately $1,485,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEP. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the 1st quarter worth approximately $25,000. Legend Financial Advisors Inc. acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $29,000. Frazier Financial Advisors LLC raised its position in shares of PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the period. Investment Research & Advisory Group Inc. raised its position in shares of PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares during the period. Finally, RMG Wealth Management LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. UBS Group dropped their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 21st. Barclays increased their price target on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Jefferies Financial Group increased their price objective on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Finally, Bank of America increased their price objective on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $142.86 on Thursday. The stock has a fifty day moving average price of $145.53 and a two-hundred day moving average price of $139.73. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The firm has a market cap of $195.34 billion, a P/E ratio of 27.16, a PEG ratio of 3.56 and a beta of 0.46. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $167.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $2.31 EPS. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

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.