Pinnacle Associates Ltd. Purchases 263 Shares of PepsiCo, Inc. (NASDAQ:PEP)

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Pinnacle Associates Ltd. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 104,354 shares of the company’s stock after acquiring an additional 263 shares during the quarter. Pinnacle Associates Ltd.’s holdings in PepsiCo were worth $14,463,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Welch & Forbes LLC increased its position in PepsiCo by 0.3% in the third quarter. Welch & Forbes LLC now owns 598,019 shares of the company’s stock worth $82,886,000 after purchasing an additional 2,055 shares during the last quarter. FLC Capital Advisors bought a new position in PepsiCo during the third quarter valued at $208,000. Bell & Brown Wealth Advisors LLC grew its stake in shares of PepsiCo by 1.8% in the 3rd quarter. Bell & Brown Wealth Advisors LLC now owns 11,080 shares of the company’s stock worth $1,544,000 after buying an additional 192 shares in the last quarter. Sippican Capital Advisors increased its holdings in shares of PepsiCo by 9.5% in the 3rd quarter. Sippican Capital Advisors now owns 4,690 shares of the company’s stock worth $650,000 after buying an additional 405 shares during the last quarter. Finally, JBJ Investment Partners LLC raised its position in shares of PepsiCo by 18.9% during the 3rd quarter. JBJ Investment Partners LLC now owns 13,632 shares of the company’s stock valued at $1,889,000 after buying an additional 2,165 shares in the last quarter. 70.16% of the stock is owned by hedge funds and other institutional investors.

Shares of PEP stock traded down $1.50 on Monday, hitting $138.06. The company had a trading volume of 3,406,131 shares, compared to its average volume of 5,347,964. PepsiCo, Inc. has a twelve month low of $101.42 and a twelve month high of $147.20. The company has a quick ratio of 0.77, a current ratio of 0.93 and a debt-to-equity ratio of 2.79. The firm has a market cap of $192.87 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 3.90 and a beta of 0.57. The company has a 50-day moving average price of $137.13 and a 200-day moving average price of $134.72.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, October 1st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.17. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The company had revenue of $18.09 billion during the quarter, compared to analysts’ expectations of $17.24 billion. During the same period last year, the business earned $1.56 earnings per share. PepsiCo’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current year.

Several brokerages have weighed in on PEP. UBS Group boosted their price objective on PepsiCo from $140.00 to $146.00 in a research note on Friday, October 2nd. Morgan Stanley boosted their target price on shares of PepsiCo from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price target for the company. in a report on Friday, September 18th. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $148.00 to $169.00 in a report on Monday, October 12th. Finally, SunTrust Banks raised their target price on PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $144.13.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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