New England Asset Management Inc. Buys 345 Shares of PepsiCo, Inc. (NASDAQ:PEP)

New England Asset Management Inc. raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 11,387 shares of the company’s stock after acquiring an additional 345 shares during the quarter. New England Asset Management Inc.’s holdings in PepsiCo were worth $1,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the last quarter. M&G Plc grew its holdings in shares of PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after buying an additional 14,724 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of PepsiCo by 3.5% during 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. Fiduciary Family Office LLC grew its holdings in shares of PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after buying an additional 3,727 shares during the last quarter. Finally, Empower Advisory Group LLC grew its holdings in shares of PepsiCo by 4.6% during the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock valued at $64,432,000 after buying an additional 16,523 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.2 %

Shares of PEP stock opened at $158.33 on Tuesday. The stock has a market capitalization of $217.23 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.96 and a beta of 0.53. The company’s fifty day simple moving average is $170.42 and its two-hundred day simple moving average is $171.38. PepsiCo, Inc. has a 1 year low of $157.76 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the company posted $2.25 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

PEP has been the topic of several analyst reports. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Company Profile

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.