Bridges Investment Management Inc. Has $36.85 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bridges Investment Management Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 216,720 shares of the company’s stock after selling 1,882 shares during the period. Bridges Investment Management Inc.’s holdings in PepsiCo were worth $36,853,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Meixler Investment Management Ltd. raised its stake in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC lifted its stake in PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after acquiring an additional 59 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton grew its stake in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after acquiring an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC lifted its position in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent research reports. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays decreased their target price 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. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Finally, TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

PepsiCo stock opened at $165.11 on Friday. The stock has a 50-day moving average price of $172.19 and a two-hundred day moving average price of $171.97. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The company has a market capitalization of $226.53 billion, a PE ratio of 24.35, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

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, beating 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 business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the business earned $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current 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.