Mathes Company Inc. lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,320 shares of the company’s stock after selling 325 shares during the period. PepsiCo makes up about 2.0% of Mathes Company Inc.’s holdings, making the stock its 11th biggest position. Mathes Company Inc.’s holdings in PepsiCo were worth $3,883,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Personal Wealth Partners acquired a new stake in PepsiCo in the second quarter valued at approximately $25,000. Krane Funds Advisors LLC acquired a new stake in PepsiCo in the second quarter valued at approximately $25,000. Evolution Wealth Advisors LLC acquired a new stake in PepsiCo in the second quarter valued at approximately $27,000. Financial Advantage Inc. acquired a new stake in PepsiCo in the second quarter valued at approximately $28,000. Finally, Vista Private Wealth Partners. LLC acquired a new stake in PepsiCo in the third quarter valued at approximately $36,000. 71.66% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. UBS Group raised their price objective on PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. BidaskClub cut PepsiCo from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 16th. Bank of America raised their price objective on PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. BMO Capital Markets reissued a “market perform” rating and issued a $133.00 price objective (up previously from $128.00) on shares of PepsiCo in a research note on Friday, October 4th. Finally, Jefferies Financial Group raised their price objective on PepsiCo from $123.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $135.53.
In other news, CEO Kirk Tanner sold 9,573 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value of $1,226,779.95. Following the transaction, the chief executive officer now owns 105,350 shares in the company, valued at $13,500,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is owned by company insiders.
Shares of PEP stock traded down $0.05 during trading hours on Monday, reaching $136.20. The company had a trading volume of 1,013,839 shares, compared to its average volume of 4,187,153. PepsiCo, Inc. has a 12 month low of $105.03 and a 12 month high of $140.45. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77. The business has a fifty day simple moving average of $136.67 and a 200-day simple moving average of $131.20. The company has a market cap of $190.98 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 3.56 and a beta of 0.56.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.06. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. The company had revenue of $17.19 billion for the quarter, compared to analyst estimates of $16.93 billion. During the same quarter last year, the company earned $1.59 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts expect that PepsiCo, Inc. will post 5.5 earnings per share for the current year.
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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