TCTC Holdings LLC Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

TCTC Holdings LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 192,584 shares of the company’s stock after acquiring an additional 497 shares during the period. PepsiCo makes up approximately 1.1% of TCTC Holdings LLC’s investment portfolio, making the stock its 24th largest holding. TCTC Holdings LLC’s holdings in PepsiCo were worth $32,749,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. M&G Plc lifted its holdings in PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after acquiring an additional 14,724 shares during the period. Fiduciary Family Office LLC raised its stake in shares of PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after buying an additional 3,727 shares during the period. GFS Advisors LLC raised its stake in shares of PepsiCo by 13,209.4% during the 3rd quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock worth $12,290,000 after buying an additional 71,727 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of PepsiCo by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 387,155 shares of the company’s stock worth $63,853,000 after buying an additional 2,976 shares during the period. Finally, Viking Fund Management LLC raised its stake in shares of PepsiCo by 8.2% during the 3rd quarter. Viking Fund Management LLC now owns 66,000 shares of the company’s stock worth $11,223,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research 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 data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

PEP stock opened at $165.11 on Friday. The company has a 50 day moving average price of $172.19 and a 200 day moving average price of $171.97. The stock has a market capitalization of $226.53 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 EPS. Analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current 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.