Grassi Investment Management trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,200 shares of the company’s stock after selling 600 shares during the quarter. Grassi Investment Management’s holdings in PepsiCo were worth $6,326,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Brookstone Capital Management lifted its position in PepsiCo by 12.3% during the first quarter. Brookstone Capital Management now owns 34,648 shares of the company’s stock valued at $6,064,000 after purchasing an additional 3,794 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of PepsiCo by 25.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 20,963 shares of the company’s stock worth $3,669,000 after acquiring an additional 4,304 shares during the period. Signet Financial Management LLC raised its position in shares of PepsiCo by 2.2% in the first quarter. Signet Financial Management LLC now owns 8,650 shares of the company’s stock worth $1,514,000 after acquiring an additional 187 shares during the period. Thrive Wealth Management LLC raised its position in shares of PepsiCo by 18.8% in the first quarter. Thrive Wealth Management LLC now owns 4,713 shares of the company’s stock worth $825,000 after acquiring an additional 745 shares during the period. Finally, Edge Wealth Management LLC raised its position in shares of PepsiCo by 3.6% in the first quarter. Edge Wealth Management LLC now owns 3,150 shares of the company’s stock worth $551,000 after acquiring an additional 110 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.
PepsiCo Stock Down 0.0 %
Shares of NASDAQ PEP opened at $172.90 on Thursday. The company has a 50-day moving average of $173.88 and a 200 day moving average of $172.23. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $237.22 billion, a PE ratio of 25.51, a P/E/G ratio of 3.26 and a beta of 0.53.
Wall Street Analyst Weigh In
PEP has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Barclays cut their target price 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. Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.
Read Our Latest Analysis on PepsiCo
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.
Further Reading
- Five stocks we like better than PepsiCo
- 3 Warren Buffett Stocks to Buy Now
- A $1.75 Billion Gamble: Can Lucid Ignite Growth?
- What is Forex and How Does it Work?
- The Rally in Lockheed Martin and RTX Can Continue: Here’s Why
- What is a Death Cross in Stocks?
- 3 Undervalued Technology Stocks With Big Rebound Potential
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.