PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 17,113.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,220,385 shares of the company’s stock after purchasing an additional 3,201,676 shares during the quarter. International Assets Investment Management LLC owned approximately 0.23% of PepsiCo worth $547,626,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital Investment Counsel Inc lifted its position in PepsiCo by 5.5% during the 3rd quarter. Capital Investment Counsel Inc now owns 4,402 shares of the company’s stock worth $749,000 after acquiring an additional 230 shares during the period. McAdam LLC lifted its position in PepsiCo by 21.0% during the 3rd quarter. McAdam LLC now owns 2,061 shares of the company’s stock worth $351,000 after acquiring an additional 357 shares during the period. Fulcrum Capital LLC lifted its position in PepsiCo by 0.4% during the 3rd quarter. Fulcrum Capital LLC now owns 49,465 shares of the company’s stock worth $8,412,000 after acquiring an additional 188 shares during the period. Iron Horse Wealth Management LLC lifted its position in PepsiCo by 28.6% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 701 shares of the company’s stock worth $119,000 after acquiring an additional 156 shares during the period. Finally, Coston McIsaac & Partners lifted its position in PepsiCo by 2.3% during the 3rd quarter. Coston McIsaac & Partners now owns 39,344 shares of the company’s stock worth $6,689,000 after acquiring an additional 868 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on PEP. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Wells Fargo & Company reduced their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Jefferies Financial Group reduced their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

NASDAQ PEP opened at $172.95 on Thursday. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The stock has a market cap of $237.29 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 3.26 and a beta of 0.53. The business has a fifty day moving average of $173.88 and a 200-day moving average of $172.23. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released 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 return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

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.