PepsiCo, Inc. $PEP Shares Bought by Westpac Banking Corp

Westpac Banking Corp raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 48.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,518 shares of the company’s stock after buying an additional 5,082 shares during the period. Westpac Banking Corp’s holdings in PepsiCo were worth $2,049,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

PEP has been the subject of several recent research reports. DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research report on Tuesday, October 21st. Loop Capital set a $164.00 target price on shares of PepsiCo in a research note on Thursday, October 23rd. HSBC raised their price target on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group increased their price target on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $156.95.

PepsiCo Price Performance

PepsiCo stock traded up $0.81 during midday trading on Monday, reaching $146.66. 250,742 shares of the stock were exchanged, compared to its average volume of 8,191,714. The company’s fifty day moving average is $144.95 and its 200-day moving average is $140.06. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $165.13. The firm has a market cap of $200.54 billion, a PE ratio of 27.89, a PEG ratio of 3.56 and a beta of 0.45. 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 data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 EPS. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS 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.