Spinnaker Investment Group LLC Acquires 324 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Spinnaker Investment Group LLC increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,501 shares of the company’s stock after buying an additional 324 shares during the period. Spinnaker Investment Group LLC’s holdings in PepsiCo were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. Swedbank AB raised its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Legal & General Group Plc grew its stake 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 worth $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of PepsiCo during the third quarter valued at about $151,749,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Redburn Atlantic upgraded 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

NASDAQ PEP opened at $158.62 on Friday. The stock has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.96 and a beta of 0.53. The stock has a 50-day moving average of $170.82 and a 200 day moving average of $171.53. 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, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the company posted $2.25 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.