Mechanics Financial Corp Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Mechanics Financial Corp lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,271 shares of the company’s stock after buying an additional 335 shares during the period. PepsiCo comprises 1.1% of Mechanics Financial Corp’s investment portfolio, making the stock its 20th largest position. Mechanics Financial Corp’s holdings in PepsiCo were worth $2,427,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its holdings in PepsiCo by 20.9% during the 1st quarter. Edgestream Partners L.P. now owns 4,605 shares of the company’s stock valued at $806,000 after acquiring an additional 796 shares during the period. Alley Investment Management Company LLC boosted its stake in shares of PepsiCo by 0.7% during the first quarter. Alley Investment Management Company LLC now owns 68,315 shares of the company’s stock valued at $11,956,000 after purchasing an additional 445 shares during the period. Trustmark National Bank Trust Department grew its holdings in shares of PepsiCo by 0.3% in the first quarter. Trustmark National Bank Trust Department now owns 35,257 shares of the company’s stock worth $6,170,000 after purchasing an additional 113 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in PepsiCo by 2.6% during the 1st quarter. Bahl & Gaynor Inc. now owns 2,587,186 shares of the company’s stock valued at $452,783,000 after buying an additional 66,537 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. boosted its position in PepsiCo by 5.6% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 53,416 shares of the company’s stock valued at $9,348,000 after buying an additional 2,847 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEP shares. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $158.62 on Friday. The company has a 50 day simple moving average of $170.82 and a two-hundred day simple moving average of $171.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The company has a market capitalization of $217.63 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last announced 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 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 analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.