Kerusso Capital Management LLC Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Kerusso Capital Management LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,479 shares of the company’s stock after purchasing an additional 813 shares during the quarter. Kerusso Capital Management LLC’s holdings in PepsiCo were worth $2,292,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC bought a new position in PepsiCo during the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC raised its stake in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the second quarter worth $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the 2nd quarter worth about $34,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded up $1.11 during mid-day trading on Friday, reaching $165.11. 4,618,265 shares of the company traded hands, compared to its average volume of 5,463,349. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The firm has a market cap of $226.53 billion, a PE ratio of 24.35, a PEG ratio of 3.07 and a beta of 0.53. The company’s 50 day moving average price is $172.19 and its 200-day moving average price is $171.97. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last released its earnings results 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. 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 company earned $2.25 EPS. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts expect 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.