Blue Chip Partners Inc. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,149 shares of the company’s stock after purchasing an additional 2,858 shares during the period. PepsiCo accounts for approximately 2.0% of Blue Chip Partners Inc.’s portfolio, making the stock its 27th biggest position. Blue Chip Partners Inc.’s holdings in PepsiCo were worth $11,386,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of PepsiCo by 0.4% in the first quarter. State Street Corp now owns 66,071,399 shares of the company’s stock worth $7,935,175,000 after purchasing an additional 291,943 shares during the period. Cox Capital Mgt LLC increased its stake in shares of PepsiCo by 130.6% in the second quarter. Cox Capital Mgt LLC now owns 14,012 shares of the company’s stock worth $1,853,000 after purchasing an additional 7,936 shares during the period. Gantzert Investment Co. LLC ADV increased its stake in shares of PepsiCo by 1.3% in the second quarter. Gantzert Investment Co. LLC ADV now owns 21,522 shares of the company’s stock worth $2,846,000 after purchasing an additional 270 shares during the period. Ellenbecker Investment Group increased its stake in shares of PepsiCo by 5.4% in the second quarter. Ellenbecker Investment Group now owns 3,462 shares of the company’s stock worth $458,000 after purchasing an additional 177 shares during the period. Finally, First Financial Bank Trust Division increased its stake in shares of PepsiCo by 2.2% in the second quarter. First Financial Bank Trust Division now owns 87,402 shares of the company’s stock worth $11,560,000 after purchasing an additional 1,884 shares during the period. 70.16% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. BidaskClub upgraded PepsiCo from a “sell” rating to a “hold” rating in a research note on Thursday. Truist lifted their target price on PepsiCo from $130.00 to $135.00 in a research report on Friday, October 2nd. Jefferies Financial Group lifted their target price on PepsiCo from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. UBS Group lifted their target price on PepsiCo from $140.00 to $146.00 in a research report on Friday, October 2nd. Finally, Morgan Stanley lifted their target price on PepsiCo from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $144.13.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 1st. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.49 by $0.17. The business had revenue of $18.09 billion for the quarter, compared to the consensus estimate of $17.24 billion. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. PepsiCo’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 5.51 EPS for the current year.
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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