PNC Financial Services Group Inc. Has $795.58 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

PNC Financial Services Group Inc. decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,678,522 shares of the company’s stock after selling 41,717 shares during the period. PNC Financial Services Group Inc.’s holdings in PepsiCo were worth $795,583,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in shares of PepsiCo by 7.2% during the second 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 in the last quarter. Massachusetts Financial Services Co. MA increased its stake in PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 buying an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of PepsiCo by 14.6% during the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after acquiring an additional 492,888 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PEP. 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 report on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays decreased their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Down 0.2 %

Shares of PepsiCo stock opened at $158.33 on Tuesday. The company’s 50 day moving average is $170.42 and its 200 day moving average is $171.38. The company has a market cap of $217.23 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $157.76 and a twelve month 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, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current 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.