Quintet Private Bank Europe S.A. Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Quintet Private Bank Europe S.A. lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,396 shares of the company’s stock after purchasing an additional 3,272 shares during the period. Quintet Private Bank Europe S.A.’s holdings in PepsiCo were worth $4,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates increased its stake in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth $28,000. POM Investment Strategies LLC boosted its holdings in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new position in PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new position in PepsiCo in the 2nd quarter worth $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Barclays dropped their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. TD Cowen downgraded shares of 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 report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Up 0.1 %

Shares of NASDAQ:PEP traded up $0.11 during trading on Monday, reaching $165.70. The company’s stock had a trading volume of 749,394 shares, compared to its average volume of 5,446,139. 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. The stock has a market capitalization of $227.34 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The firm’s 50 day simple moving average is $173.03 and its two-hundred day simple moving average is $172.25.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company 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 company posted $2.25 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Company 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.