Legacy Capital Group California Inc. Buys New Position in PepsiCo, Inc. (NASDAQ:PEP)

Legacy Capital Group California Inc. acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,263 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares during the period. Flossbach Von Storch AG boosted its stake in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares in the last quarter. Swedbank AB increased its holdings in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the period. PineStone Asset Management Inc. raised its stake in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after acquiring an additional 1,179,922 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

PepsiCo stock opened at $171.79 on Friday. The business’s 50-day simple moving average is $173.86 and its 200 day simple moving average is $172.25. 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 stock has a market cap of $236.17 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 3.25 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on PEP. Barclays cut their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target 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 MarketBeat, the stock 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.