Somerset Trust Co lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,446 shares of the company’s stock after purchasing an additional 545 shares during the quarter. Somerset Trust Co’s holdings in PepsiCo were worth $2,556,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in PEP. State Street Corp raised its stake in shares of PepsiCo by 0.4% in the first 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. Skandinaviska Enskilda Banken AB publ raised its stake in shares of PepsiCo by 9.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 669,876 shares of the company’s stock worth $80,452,000 after purchasing an additional 58,122 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of PepsiCo by 170.1% in the first quarter. Loomis Sayles & Co. L P now owns 6,086 shares of the company’s stock worth $731,000 after purchasing an additional 3,833 shares during the last quarter. Cohen & Steers Inc. raised its stake in shares of PepsiCo by 16.5% in the first quarter. Cohen & Steers Inc. now owns 1,671 shares of the company’s stock worth $201,000 after purchasing an additional 237 shares during the last quarter. Finally, Balyasny Asset Management LLC purchased a new position in shares of PepsiCo in the first quarter worth about $1,908,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.
Shares of NASDAQ:PEP 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 business’s 50 day moving average price is $137.07 and its 200-day moving average price is $134.07. The firm has a market capitalization of $195.86 billion, a PE ratio of 28.98, a P/E/G ratio of 4.53 and a beta of 0.56. PepsiCo, Inc. has a 1 year low of $101.42 and a 1 year high of $147.20.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, October 1st. The company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.17. The firm had revenue of $18.09 billion for the quarter, compared to analyst estimates of $17.24 billion. PepsiCo had a return on equity of 54.77% and a net margin of 10.13%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 5.34 earnings per share for the current year.
Several brokerages recently weighed in on PEP. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price target for the company. in a research report on Friday, September 18th. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and lifted their price target for the company from $148.00 to $169.00 in a research report on Monday, October 12th. SunTrust Banks lifted their price target on PepsiCo from $125.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. UBS Group lifted their price target on PepsiCo from $140.00 to $146.00 in a research report on Friday, October 2nd. Finally, BidaskClub cut PepsiCo from a “hold” rating to a “sell” rating in a research report on Friday, October 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $144.13.
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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