PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.5% during the third quarter, HoldingsChannel.com reports. The fund owned 135,331 shares of the company’s stock after buying an additional 4,547 shares during the period. Pinnacle Financial Partners Inc’s holdings in PepsiCo were worth $23,013,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares in 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 last quarter. PineStone Asset Management Inc. lifted its holdings in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the period. Legal & General Group Plc increased its stake in shares of PepsiCo by 7.2% in 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. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of PepsiCo during the third quarter worth about $151,749,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of PEP stock opened at $164.34 on Wednesday. The company’s 50 day moving average is $172.02 and its 200 day moving average is $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. The firm has a market cap of $225.47 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo 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.