PepsiCo, Inc. (NASDAQ:PEP) is Jensen Investment Management Inc.’s 10th Largest Position

Jensen Investment Management Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,591,236 shares of the company’s stock after selling 147,475 shares during the quarter. PepsiCo accounts for 3.7% of Jensen Investment Management Inc.’s portfolio, making the stock its 10th largest position. Jensen Investment Management Inc.’s holdings in PepsiCo were worth $440,640,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PEP. M&G Plc grew its holdings in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares in the last quarter. Fiduciary Family Office LLC boosted its holdings in shares of PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after buying an additional 3,727 shares in the last quarter. GFS Advisors LLC lifted its holdings in shares of PepsiCo by 13,209.4% in the 3rd quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock valued at $12,290,000 after purchasing an additional 71,727 shares during the last quarter. Nisa Investment Advisors LLC increased its position in PepsiCo by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock worth $63,853,000 after buying an additional 2,976 shares during the period. Finally, Viking Fund Management LLC raised its position in PepsiCo by 8.2% in the 3rd quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock valued at $11,223,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent analyst reports. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One equities 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, the company has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

PEP stock traded up $1.11 on Friday, hitting $165.11. 4,618,265 shares of the company’s stock traded hands, compared to its average volume of 5,463,349. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $226.53 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The stock has a fifty day moving average of $172.19 and a 200-day moving average of $171.98.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.18% and a return on equity of 57.32%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.25 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.