Geode Capital Management LLC Has $4.30 Billion Stake in PepsiCo, Inc. $PEP

Geode Capital Management LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,675,492 shares of the company’s stock after acquiring an additional 86,695 shares during the quarter. Geode Capital Management LLC’s holdings in PepsiCo were worth $4,301,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Nuveen LLC acquired a new position in PepsiCo in the first quarter worth $946,978,000. Kingstone Capital Partners Texas LLC bought a new position in shares of PepsiCo in the second quarter valued at about $460,110,000. Acadian Asset Management LLC lifted its position in PepsiCo by 175.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,969,635 shares of the company’s stock worth $392,076,000 after buying an additional 1,892,469 shares in the last quarter. Vanguard Group Inc. grew its holdings in PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after acquiring an additional 1,802,748 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in PepsiCo by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock valued at $3,969,698,000 after acquiring an additional 1,258,198 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a research report on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. UBS Group decreased their price objective on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Cowen reissued a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Piper Sandler upped their price target on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $156.95.

PepsiCo Price Performance

PEP opened at $145.08 on Wednesday. The company has a fifty day moving average price of $145.08 and a two-hundred day moving average price of $139.84. The firm has a market capitalization of $198.37 billion, a PE ratio of 27.58, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $166.88. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $2.31 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current 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.