WASHINGTON TRUST Co Increases Stock Holdings in PepsiCo, Inc. $PEP

WASHINGTON TRUST Co boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,234 shares of the company’s stock after acquiring an additional 676 shares during the quarter. WASHINGTON TRUST Co’s holdings in PepsiCo were worth $13,895,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $25,000. Legend Financial Advisors Inc. acquired a new position in shares of PepsiCo in the second quarter worth $29,000. Frazier Financial Advisors LLC increased its holdings in shares of PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. RMG Wealth Management LLC acquired a new position in shares of PepsiCo in the 2nd quarter valued at $45,000. Finally, Investment Research & Advisory Group Inc. increased its stake in shares of PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BNP Paribas Exane decreased their price objective on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Jefferies Financial Group lifted their price target on shares of PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a report on Friday, October 10th. Evercore ISI increased their target price on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research note on Tuesday, October 21st. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $156.95.

PepsiCo Stock Performance

NASDAQ PEP traded up $0.22 during trading on Thursday, reaching $144.61. The company’s stock had a trading volume of 390,930 shares, compared to its average volume of 8,209,111. The firm has a market capitalization of $197.73 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $166.88. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The firm has a 50 day moving average price of $145.00 and a 200 day moving average price of $139.87.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 EPS. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS 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.