Cortland Associates Inc. MO Buys 545 Shares of PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Cortland Associates Inc. MO grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 31.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,257 shares of the company’s stock after purchasing an additional 545 shares during the quarter. Cortland Associates Inc. MO’s holdings in PepsiCo were worth $384,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Legal & General Group Plc grew its holdings 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 period. Massachusetts Financial Services Co. MA increased its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after buying an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG grew its position in shares of 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 buying an additional 1,832,385 shares during the period. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group cut their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $183.92.

Get Our Latest Research Report on PepsiCo

PepsiCo Stock Down 0.3 %

PepsiCo stock opened at $165.59 on Monday. 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 cap of $227.19 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The firm’s 50-day simple moving average is $173.03 and its 200 day simple moving average is $172.25.

PepsiCo (NASDAQ:PEP – Get Free Report) last posted 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 for the quarter, compared to analysts’ expectations of $23.86 billion. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 earnings per share. Research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo 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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