PNC Financial Services Group Inc. Has $795.58 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

PNC Financial Services Group Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,678,522 shares of the company’s stock after selling 41,717 shares during the period. PNC Financial Services Group Inc. owned 0.34% of PepsiCo worth $795,583,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares during the period. M&G Plc raised its position in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after buying an additional 14,724 shares during the last quarter. Pinnacle Financial Partners Inc grew its position in PepsiCo by 3.5% during the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after buying an additional 4,547 shares in the last quarter. Fiduciary Family Office LLC raised its holdings in PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after acquiring an additional 3,727 shares in the last quarter. Finally, Empower Advisory Group LLC grew its holdings in shares of PepsiCo by 4.6% during the 3rd quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock worth $64,432,000 after purchasing an additional 16,523 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

PEP stock opened at $158.33 on Tuesday. 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, Inc. has a 52-week low of $157.76 and a 52-week high of $183.41. The company has a market capitalization of $217.23 billion, a P/E ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53. The company has a fifty day moving average price of $170.42 and a 200-day moving average price of $171.38.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating 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 company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current 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.