Mechanics Financial Corp Acquires 335 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mechanics Financial Corp lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the third quarter, HoldingsChannel.com reports. The fund owned 14,271 shares of the company’s stock after purchasing an additional 335 shares during the period. PepsiCo accounts for 1.1% of Mechanics Financial Corp’s holdings, making the stock its 20th biggest position. Mechanics Financial Corp’s holdings in PepsiCo were worth $2,427,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PEP. Royal Bank of Canada lowered their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price 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 raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Down 4.0 %

PepsiCo stock opened at $158.62 on Friday. The business’s 50-day moving average price is $170.82 and its 200 day moving average price is $171.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a market cap of $217.63 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 2.96 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 data on Tuesday, October 8th. The company reported $2.31 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 business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the company earned $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

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.