Murphy Capital Management Inc. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 49,541 shares of the company’s stock after acquiring an additional 909 shares during the quarter. Murphy Capital Management Inc.’s holdings in PepsiCo were worth $6,792,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of PepsiCo by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 114,097,547 shares of the company’s stock valued at $14,961,613,000 after purchasing an additional 838,652 shares in the last quarter. BlackRock Inc. grew its position in shares of PepsiCo by 1.4% during the second quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock worth $13,422,659,000 after purchasing an additional 1,413,723 shares in the last quarter. Northern Trust Corp grew its position in shares of PepsiCo by 0.7% during the second quarter. Northern Trust Corp now owns 20,818,749 shares of the company’s stock worth $2,729,962,000 after purchasing an additional 143,784 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of PepsiCo by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 19,884,685 shares of the company’s stock worth $2,607,480,000 after purchasing an additional 378,960 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of PepsiCo by 1.1% during the second quarter. Morgan Stanley now owns 11,058,425 shares of the company’s stock worth $1,450,090,000 after purchasing an additional 117,564 shares in the last quarter. 71.46% of the stock is owned by institutional investors.
Several analysts recently issued reports on the company. SunTrust Banks reiterated a “hold” rating and set a $125.00 target price on shares of PepsiCo in a research report on Wednesday, July 10th. Atlantic Securities assumed coverage on PepsiCo in a research report on Monday, July 29th. They set an “overweight” rating and a $145.00 target price for the company. Jefferies Financial Group increased their target price on PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. Citigroup increased their target price on PepsiCo from $139.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, ValuEngine cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $135.53.
In other news, CEO Kirk Tanner sold 9,573 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value of $1,226,779.95. Following the completion of the sale, the chief executive officer now directly owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by company insiders.
PepsiCo stock traded up $0.41 during midday trading on Friday, reaching $138.30. 136,634 shares of the stock traded hands, compared to its average volume of 4,508,839. The stock’s fifty day moving average is $135.89 and its 200-day moving average is $130.57. PepsiCo, Inc. has a 12 month low of $104.53 and a 12 month high of $140.45. The stock has a market cap of $191.37 billion, a P/E ratio of 24.44, a PEG ratio of 3.57 and a beta of 0.56. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.08.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.06. The business had revenue of $17.19 billion during the quarter, compared to analyst estimates of $16.93 billion. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.59 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 5.5 EPS for the current fiscal year.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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