Pinnacle Associates Ltd. Raises Holdings in PepsiCo, Inc. $PEP

Pinnacle Associates Ltd. boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 9.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,193 shares of the company’s stock after purchasing an additional 13,517 shares during the period. Pinnacle Associates Ltd.’s holdings in PepsiCo were worth $20,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Claris Advisors LLC MO increased its position in PepsiCo by 14.1% during the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after buying an additional 308 shares in the last quarter. Foster Group Inc. grew its position in shares of PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after purchasing an additional 229 shares during the period. Ignite Planners LLC increased its stake in PepsiCo by 4.2% during the first quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock worth $566,000 after acquiring an additional 151 shares during the last quarter. Merit Financial Group LLC increased its stake in PepsiCo by 46.4% during the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after acquiring an additional 36,239 shares during the last quarter. Finally, Fulton Bank N.A. increased its stake in PepsiCo by 2.5% during the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after acquiring an additional 620 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEP. Jefferies Financial Group increased their target price on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Piper Sandler increased their price target on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Loop Capital set a $164.00 price target on PepsiCo in a report on Thursday, October 23rd. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group increased their price target on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $156.95.

PepsiCo Trading Up 1.0%

NASDAQ:PEP opened at $147.55 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The business’s 50 day moving average is $145.87 and its two-hundred day moving average is $139.73. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $167.96. The company has a market cap of $201.75 billion, a PE ratio of 28.05, a P/E/G ratio of 3.56 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, October 9th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. On average, analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Company Profile

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.