QRG Capital Management Inc. Has $29.70 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

QRG Capital Management Inc. raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 174,630 shares of the company’s stock after purchasing an additional 2,094 shares during the quarter. QRG Capital Management Inc.’s holdings in PepsiCo were worth $29,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Legal & General Group Plc lifted its stake in PepsiCo by 7.2% in 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 period. Massachusetts Financial Services Co. MA lifted its position in PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares during the period. Dimensional Fund Advisors LP lifted its position in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares during the period. Ameriprise Financial Inc. lifted its position in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG lifted its position in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after buying an additional 1,832,385 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.4 %

Shares of NASDAQ PEP traded up $0.61 during trading hours on Monday, hitting $166.20. 401,499 shares of the company traded hands, compared to its average volume of 5,444,255. The company’s 50 day moving average price is $173.03 and its 200 day moving average price is $172.25. The stock has a market capitalization of $228.02 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. 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 12 month low of $158.03 and a 12 month high of $183.41.

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

Analyst Ratings Changes

Several equities research analysts recently commented on PEP shares. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $183.92.

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.