New Millennium Group LLC Has $1.24 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

New Millennium Group LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2,738.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,295 shares of the company’s stock after purchasing an additional 7,038 shares during the quarter. PepsiCo accounts for about 0.8% of New Millennium Group LLC’s portfolio, 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 & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. West Family Investments Inc. grew its holdings in PepsiCo by 2.5% during the third quarter. West Family Investments Inc. now owns 9,669 shares of the company’s stock valued at $1,644,000 after purchasing an additional 232 shares during the period. Second Half Financial Partners LLC purchased a new stake in PepsiCo in the third quarter valued at approximately $239,000. Aberdeen Wealth Management LLC lifted its stake in PepsiCo by 1.4% during the third quarter. Aberdeen Wealth Management LLC now owns 8,269 shares of the company’s stock worth $1,406,000 after purchasing an additional 115 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $101,529,000. Finally, Guardian Wealth Advisors LLC grew its stake in shares of PepsiCo by 5.5% during the third quarter. Guardian Wealth Advisors LLC now owns 4,806 shares of the company’s stock valued at $817,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.2 %

NASDAQ:PEP opened at $158.00 on Tuesday. The firm has a 50 day moving average of $170.42 and a 200 day moving average of $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, Inc. has a 52 week low of $157.76 and a 52 week high of $183.41. The stock has a market capitalization of $216.77 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.25 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on PEP. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. 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 equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

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.