State of New Jersey Common Pension Fund D Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

State of New Jersey Common Pension Fund D grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 507,644 shares of the company’s stock after purchasing an additional 867 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PepsiCo were worth $86,325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PEP. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the 3rd 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 purchased a new position in shares of PepsiCo in the third quarter valued at $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 purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter valued at $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PEP shares. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.7 %

Shares of NASDAQ PEP traded up $1.11 during midday trading on Friday, reaching $165.11. 4,618,265 shares of the company’s stock traded hands, compared to its average volume of 5,463,349. The stock’s 50 day simple moving average is $172.19 and its 200-day simple moving average is $171.98. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company 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 (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The firm 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 quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 EPS. On average, analysts predict 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.