Cumberland Partners Ltd Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Cumberland Partners Ltd grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 15.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,055 shares of the company’s stock after acquiring an additional 2,355 shares during the quarter. Cumberland Partners Ltd’s holdings in PepsiCo were worth $3,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its stake in shares of PepsiCo by 7.2% during 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 acquiring an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares during the period. Ameriprise Financial Inc. raised its position in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after buying an additional 57,322 shares during the period. Finally, Bank of Montreal Can boosted its holdings in PepsiCo by 14.6% in the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock valued at $676,036,000 after acquiring an additional 492,888 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. decreased their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

NASDAQ:PEP traded down $0.23 during trading hours on Tuesday, reaching $164.03. 858,011 shares of the stock were exchanged, compared to its average volume of 5,434,035. The stock has a market capitalization of $225.05 billion, a P/E ratio of 24.23, a P/E/G ratio of 3.08 and a beta of 0.53. The firm has a 50 day simple moving average of $172.02 and a 200-day simple moving average of $171.85. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share 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.