Arrow Financial Corp reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 14.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 17,510 shares of the company’s stock after selling 2,887 shares during the quarter. Arrow Financial Corp’s holdings in PepsiCo were worth $2,978,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc lifted its stake in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after buying an additional 700,092 shares during the period. Dimensional Fund Advisors LP increased its position in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of PepsiCo by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after acquiring an additional 492,888 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on PEP shares. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.
PepsiCo Stock Up 0.7 %
Shares of NASDAQ PEP opened at $165.11 on Friday. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The stock’s fifty day simple moving average is $172.19 and its two-hundred day simple moving average is $171.97. The stock has a market capitalization of $226.53 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.
PepsiCo 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.
Read More
- Five stocks we like better than PepsiCo
- The Role Economic Reports Play in a Successful Investment Strategy
- California Resources Stock Could Be a Huge Long-Term Winner
- There Are Different Types of Stock To Invest In
- Observability Wars: Datadog and Dynatrace Vie for Data Dominance
- What Is WallStreetBets and What Stocks Are They Targeting?
- Airbnb Stock Attracts Attention With Strong Cash Flow Strategy
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP – Free Report).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.