Intech Investment Management LLC Purchases 22,262 Shares of PepsiCo, Inc. $PEP

Intech Investment Management LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 37.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 82,036 shares of the company’s stock after acquiring an additional 22,262 shares during the quarter. Intech Investment Management LLC’s holdings in PepsiCo were worth $10,832,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PEP. JSF Financial LLC lifted its stake in shares of PepsiCo by 3.8% during the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after buying an additional 69 shares in the last quarter. Dogwood Wealth Management LLC lifted its position in shares of PepsiCo by 15.4% during the second quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after acquiring an additional 72 shares in the last quarter. Joel Isaacson & Co. LLC grew its position in shares of PepsiCo by 0.5% in the second quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock valued at $2,180,000 after purchasing an additional 74 shares in the last quarter. Bull Street Advisors LLC raised its stake in shares of PepsiCo by 0.4% during the 2nd quarter. Bull Street Advisors LLC now owns 19,902 shares of the company’s stock valued at $2,628,000 after purchasing an additional 74 shares during the period. Finally, Guardian Wealth Advisors LLC raised its stake in shares of PepsiCo by 1.6% during the 2nd quarter. Guardian Wealth Advisors LLC now owns 4,562 shares of the company’s stock valued at $602,000 after purchasing an additional 74 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PEP. Rothschild & Co Redburn raised their target price on PepsiCo from $115.00 to $117.00 and gave the stock a “sell” rating in a research note on Monday, October 13th. UBS Group cut their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Bank of America boosted their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. The Goldman Sachs Group increased their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Citigroup reduced their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Seven equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Performance

PepsiCo stock opened at $145.85 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $165.13. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a market cap of $199.43 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. The firm’s fifty day moving average price is $144.95 and its 200-day moving average price is $140.03.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

About PepsiCo

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.