NorthCrest Asset Manangement LLC Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

NorthCrest Asset Manangement LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 126,251 shares of the company’s stock after acquiring an additional 1,681 shares during the period. NorthCrest Asset Manangement LLC’s holdings in PepsiCo were worth $21,469,000 at the end of the most recent quarter.

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

PepsiCo Stock Performance

NASDAQ PEP traded down $0.37 during trading on Friday, reaching $171.79. The company’s stock had a trading volume of 4,442,863 shares, compared to its average volume of 5,469,759. The firm 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 twelve month low of $158.03 and a twelve month high of $183.41. The business’s fifty day moving average price is $173.87 and its 200-day moving average price is $172.23. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note 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 report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. 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 data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average target price of $183.92.

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.