Callahan Advisors LLC Increases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Callahan Advisors LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 89,332 shares of the company’s stock after purchasing an additional 1,558 shares during the quarter. PepsiCo comprises 1.5% of Callahan Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Callahan Advisors LLC’s holdings in PepsiCo were worth $15,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo during the third quarter worth $28,000. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the second quarter worth $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PEP shares. 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 report on Monday, September 30th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. JPMorgan Chase & Co. cut 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. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, DZ Bank cut 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Up 0.9 %

NASDAQ:PEP opened at $167.85 on Wednesday. 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 one year low of $158.03 and a one year high of $183.41. The business’s 50-day simple moving average is $172.69 and its 200 day simple moving average is $172.16. The stock has a market cap of $230.29 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict 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.