FineMark National Bank & Trust Has $6.48 Million Stock Holdings in PepsiCo, Inc. $PEP

FineMark National Bank & Trust reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 49,107 shares of the company’s stock after selling 1,987 shares during the period. FineMark National Bank & Trust’s holdings in PepsiCo were worth $6,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in shares of PepsiCo in the 1st quarter worth $25,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo during the second quarter worth $29,000. Frazier Financial Advisors LLC lifted its stake in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares in the last quarter. Investment Research & Advisory Group Inc. increased its position 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 in the last quarter. Finally, RMG Wealth Management LLC acquired a new stake in shares of PepsiCo in the 2nd quarter worth about $45,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.6%

NASDAQ PEP opened at $148.77 on Wednesday. The business’s fifty day moving average is $145.19 and its 200-day moving average is $140.27. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The stock has a market capitalization of $203.42 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $165.13.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEP shares. Jefferies Financial Group lifted their price target on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Barclays lifted their target price on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Wells Fargo & Company raised their price objective on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. UBS Group reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Finally, BNP Paribas Exane lowered their target price 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. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $156.95.

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.