Daiwa Securities Group Inc. increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 9.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,514 shares of the company’s stock after purchasing an additional 5,355 shares during the period. Daiwa Securities Group Inc.’s holdings in PepsiCo were worth $8,433,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Personal Wealth Partners bought a new stake in shares of PepsiCo during the second quarter valued at approximately $25,000. Krane Funds Advisors LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $25,000. Evolution Wealth Advisors LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $27,000. Financial Advantage Inc. bought a new stake in shares of PepsiCo during the second quarter valued at approximately $28,000. Finally, Vista Private Wealth Partners. LLC bought a new stake in shares of PepsiCo during the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 71.70% of the company’s stock.
NASDAQ:PEP traded down $0.22 during midday trading on Friday, hitting $133.10. 246,677 shares of the stock were exchanged, compared to its average volume of 3,003,033. PepsiCo, Inc. has a one year low of $105.03 and a one year high of $140.45. The company has a market capitalization of $186.87 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 3.48 and a beta of 0.56. The business has a 50-day moving average price of $136.56 and a two-hundred day moving average price of $132.53. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 3rd. The company reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.06. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. The firm had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $16.93 billion. During the same quarter in the previous year, the company earned $1.59 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 5.5 EPS for the current fiscal year.
PEP has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $133.00 price target (up previously from $128.00) on shares of PepsiCo in a report on Friday, October 4th. Citigroup lifted their price target on PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Credit Suisse Group lifted their price target on PepsiCo from $117.00 to $126.00 and gave the company an “underperform” rating in a report on Friday, October 4th. Atlantic Securities initiated coverage on PepsiCo in a report on Monday, July 29th. They set an “overweight” rating and a $145.00 price target on the stock. Finally, ValuEngine cut PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $135.53.
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.
Read More: Capital Gains Distribution
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.