New Millennium Group LLC Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

New Millennium Group LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2,738.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,295 shares of the company’s stock after purchasing an additional 7,038 shares during the quarter. PepsiCo makes up about 0.8% of New Millennium Group LLC’s holdings, making the stock its 29th biggest position. New Millennium Group LLC’s holdings in PepsiCo were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted its position in shares of 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 purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC increased its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the 2nd quarter valued at about $30,000. Finally, Rakuten Securities Inc. lifted its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PEP shares. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $158.00 on Tuesday. PepsiCo, Inc. has a twelve month low of $157.76 and a twelve month high of $183.41. The company has a market cap of $216.77 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. The business’s 50 day moving average price is $170.42 and its two-hundred day moving average price is $171.38. 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 (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the business earned $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict 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.