PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the third quarter, HoldingsChannel reports. The firm owned 25,982 shares of the company’s stock after purchasing an additional 181 shares during the quarter. PepsiCo comprises about 1.9% of Commonwealth Retirement Investments LLC’s holdings, making the stock its 17th largest holding. Commonwealth Retirement Investments LLC’s holdings in PepsiCo were worth $4,418,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. Swedbank AB increased its stake in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. increased its stake in PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Legal & General Group Plc increased its stake in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in PepsiCo during the third quarter valued at $151,749,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the subject of several recent research reports. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.0 %

PEP stock traded down $0.06 during mid-day trading on Tuesday, reaching $164.20. 928,534 shares of the stock traded hands, compared to its average volume of 5,435,313. The company has a market cap of $225.28 billion, a P/E ratio of 24.23, a P/E/G ratio of 3.08 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock’s fifty day moving average is $172.02 and its 200-day moving average is $171.85.

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 company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. 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. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

About PepsiCo

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.