PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.4% in the 3rd quarter, Holdings Channel reports. The firm owned 2,160 shares of the company’s stock after purchasing an additional 149 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in PepsiCo were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc lifted 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 purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after acquiring an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the period. Ameriprise Financial Inc. boosted its stake in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of PepsiCo by 14.6% in the 2nd quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after purchasing an additional 492,888 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP opened at $158.33 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $217.23 billion, a P/E ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53. The firm has a 50-day moving average of $170.42 and a 200 day moving average of $171.38. PepsiCo, Inc. has a fifty-two week low of $157.76 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. reduced their price objective 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. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Finally, Bank of America cut their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $183.92.

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.