CIBC Asset Management Inc Has $90.91 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

CIBC Asset Management Inc grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 534,607 shares of the company’s stock after purchasing an additional 33,679 shares during the quarter. CIBC Asset Management Inc’s holdings in PepsiCo were worth $90,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. Swedbank AB grew its holdings in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the period. PineStone Asset Management Inc. lifted its stake in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the period. Legal & General Group Plc grew its stake in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $151,749,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

PEP opened at $165.15 on Friday. The firm has a market cap of $226.58 billion, a P/E ratio of 24.36, a PEG ratio of 3.07 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The firm has a 50-day moving average of $171.48 and a 200 day moving average of $171.72.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. PepsiCo’s revenue was down .6% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research reports. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target 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. Finally, DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. One investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $183.92.

About PepsiCo

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.