PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,160 shares of the company’s stock after buying an additional 149 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in PepsiCo were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Meixler Investment Management Ltd. increased its holdings in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares during the last quarter. Opes Wealth Management LLC boosted its holdings 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 purchasing an additional 59 shares during the period. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Bank of Stockton increased its position in shares of PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC grew its position in 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 acquiring an additional 60 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 equities research analysts have recently weighed in on the company. Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Finally, Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

PEP opened at $158.33 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm’s 50-day moving average price is $170.42 and its 200 day moving average price is $171.38. The firm has a market capitalization of $217.23 billion, a PE ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53. 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 data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping 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 firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the business posted $2.25 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.