Busey Bank Has $37.41 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Busey Bank trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 220,016 shares of the company’s stock after selling 2,689 shares during the quarter. PepsiCo accounts for 1.2% of Busey Bank’s holdings, making the stock its 16th biggest position. Busey Bank’s holdings in PepsiCo were worth $37,414,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Moody Lynn & Lieberson LLC raised its stake in shares of PepsiCo by 14.6% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 124,323 shares of the company’s stock valued at $21,141,000 after purchasing an additional 15,822 shares during the period. Cross Staff Investments Inc grew its holdings in shares of PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares in the last quarter. West Michigan Advisors LLC lifted its stake in PepsiCo by 1.5% in the 3rd quarter. West Michigan Advisors LLC now owns 4,784 shares of the company’s stock valued at $814,000 after acquiring an additional 70 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new position in PepsiCo during the 3rd quarter worth approximately $1,727,000. Finally, Mainstay Capital Management LLC ADV grew its stake in shares of PepsiCo by 7.3% during the 3rd quarter. Mainstay Capital Management LLC ADV now owns 4,842 shares of the company’s stock worth $823,000 after acquiring an additional 330 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $172.16 on Friday. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The stock has a market cap of $236.68 billion, a PE ratio of 24.99, a P/E/G ratio of 3.25 and a beta of 0.53. The firm has a 50-day moving average of $173.88 and a 200-day moving average of $172.23. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the company posted $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on PEP. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Jefferies Financial Group decreased their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo 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.