Balentine LLC Boosts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Balentine LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 34.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,384 shares of the company’s stock after purchasing an additional 2,399 shares during the period. Balentine LLC’s holdings in PepsiCo were worth $1,596,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PEP. Hemenway Trust Co LLC lifted its position in shares of PepsiCo by 1.8% during the 1st quarter. Hemenway Trust Co LLC now owns 13,327 shares of the company’s stock valued at $2,332,000 after acquiring an additional 240 shares during the period. First Long Island Investors LLC raised its holdings in PepsiCo by 42.7% during the first quarter. First Long Island Investors LLC now owns 99,050 shares of the company’s stock worth $17,335,000 after purchasing an additional 29,659 shares during the last quarter. Broderick Brian C grew its holdings in PepsiCo by 5.6% in the first quarter. Broderick Brian C now owns 23,442 shares of the company’s stock valued at $4,103,000 after purchasing an additional 1,250 shares during the last quarter. Cohen Capital Management Inc. increased its position in shares of PepsiCo by 0.3% in the first quarter. Cohen Capital Management Inc. now owns 89,813 shares of the company’s stock valued at $15,718,000 after buying an additional 292 shares in the last quarter. Finally, Flossbach Von Storch AG raised its stake in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on PEP shares. 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. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Up 0.9 %

Shares of PEP opened at $167.85 on Wednesday. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The company’s fifty day moving average is $172.69 and its two-hundred day moving average is $172.16. The firm has a market cap of $230.29 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. 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 (NASDAQ:PEP) last issued its earnings results 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 analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.25 earnings per share. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share 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.