PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,501 shares of the company’s stock after buying an additional 324 shares during the quarter. Spinnaker Investment Group LLC’s holdings in PepsiCo were worth $595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares during the last quarter. M&G Plc raised its position in PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the period. Pinnacle Financial Partners Inc lifted its stake in shares of PepsiCo by 3.5% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after purchasing an additional 4,547 shares during the last quarter. Fiduciary Family Office LLC grew its holdings in shares of PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,727 shares during the period. Finally, Empower Advisory Group LLC raised its holdings in PepsiCo by 4.6% in the 3rd quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock valued at $64,432,000 after buying an additional 16,523 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. One investment 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, the stock has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Down 4.0 %

PepsiCo stock opened at $158.62 on Friday. The stock has a market cap of $217.63 billion, a PE ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock’s fifty day moving average is $170.82 and its two-hundred day moving average is $171.53. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its 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 firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 earnings per share. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.