Janney Montgomery Scott LLC Acquires Shares of 892,381 PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Janney Montgomery Scott LLC bought a new stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 892,381 shares of the company’s stock, valued at approximately $151,749,000.

Several other institutional investors and hedge funds have also modified their holdings of PEP. Legal & General Group Plc grew its position in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the period. Ameriprise Financial Inc. grew its stake in shares of PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG raised its position in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 0.3 %

Shares of PepsiCo stock opened at $165.59 on Friday. The company’s 50 day moving average price is $173.03 and its 200-day moving average price is $172.23. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market capitalization of $227.19 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Free Report) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping 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 quarter last year, the business posted $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PEP shares. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Jefferies Financial Group decreased their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $183.92.

Read Our Latest Stock Report on PEP

PepsiCo Company Profile

(Free Report)

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.

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