Bell Bank Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bell Bank grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,190 shares of the company’s stock after acquiring an additional 79 shares during the period. Bell Bank’s holdings in PepsiCo were worth $542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. M&G Plc increased its holdings in shares of PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares in the last quarter. Fiduciary Family Office LLC boosted its stake in PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after buying an additional 3,727 shares during the last quarter. GFS Advisors LLC raised its stake in PepsiCo by 13,209.4% during the third quarter. GFS Advisors LLC now owns 72,270 shares of the company’s stock worth $12,290,000 after purchasing an additional 71,727 shares during the period. WoodTrust Financial Corp grew its position in PepsiCo by 5.7% in the third quarter. WoodTrust Financial Corp now owns 64,341 shares of the company’s stock worth $10,941,000 after acquiring an additional 3,465 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its position in PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after buying an additional 4,547 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PEP shares. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $164.74 on Thursday. The stock has a market cap of $226.02 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The business has a fifty day simple moving average of $171.75 and a 200-day simple moving average of $171.77.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion during 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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.