GRIMES & Co WEALTH MANAGEMENT LLC Buys 8,799 Shares of PepsiCo, Inc. $PEP

GRIMES & Co WEALTH MANAGEMENT LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,533 shares of the company’s stock after acquiring an additional 8,799 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in PepsiCo were worth $10,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of PepsiCo by 2.1% during the 2nd quarter. BlackRock Inc. now owns 118,281,854 shares of the company’s stock valued at $16,015,363,000 after purchasing an additional 2,440,377 shares in the last quarter. State Street Corp boosted its stake in PepsiCo by 1.7% during the 2nd quarter. State Street Corp now owns 60,406,932 shares of the company’s stock valued at $8,179,099,000 after purchasing an additional 987,582 shares during the period. Bank of America Corp DE grew its stake in shares of PepsiCo by 0.6% in the first quarter. Bank of America Corp DE now owns 21,283,701 shares of the company’s stock worth $3,305,146,000 after acquiring an additional 133,325 shares during the last quarter. Amundi grew its position in PepsiCo by 16.8% in the 1st quarter. Amundi now owns 11,444,671 shares of the company’s stock worth $1,777,243,000 after purchasing an additional 1,647,506 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in PepsiCo by 4.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,817,684 shares of the company’s stock valued at $1,600,114,000 after acquiring an additional 549,336 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Pohlad purchased 184,646 shares of PepsiCo stock in a transaction dated Wednesday, October 14th. The shares were bought at an average cost of $128.28 per share, with a total value of $23,686,388.88. Following the completion of the transaction, the director directly owned 433,009 shares in the company, valued at $55,546,394.52. This trade represents a 74.35% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ramon Laguarta sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $135.13, for a total transaction of $4,053,900.00. Following the completion of the transaction, the chief executive officer directly owned 491,645 shares of the company’s stock, valued at $66,435,988.85. This trade represents a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

PepsiCo Trading Up 2.2%

NASDAQ:PEP opened at $140.42 on Tuesday. PepsiCo, Inc. has a 1-year low of $123.47 and a 1-year high of $171.48. The business’s 50-day moving average price is $133.43 and its two-hundred day moving average price is $145.86. The company has a current ratio of 0.94, a quick ratio of 0.76 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $191.36 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 3.96 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.05. PepsiCo had a net margin of 11.09% and a return on equity of 53.08%. The firm had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $24.95 billion. During the same quarter in the previous year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts expect that PepsiCo, Inc. will post 8.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PEP. Barclays decreased their target price on shares of PepsiCo from $133.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $138.00 to $137.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $132.00 price objective on shares of PepsiCo in a report on Friday, October 9th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday, October 9th. Finally, Evercore lowered their price target on shares of PepsiCo from $150.00 to $135.00 in a report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $143.28.

About PepsiCo

PepsiCo, Inc (NASDAQ:PEP) is a global food and beverage company whose portfolio includes Pepsi-Cola, Mountain Dew, Gatorade, Lay’s, Doritos, Cheetos, Quaker, Tostitos, Fritos, and SodaStream. Its products span carbonated soft drinks, sports and energy beverages, bottled water, juices, convenient foods, snacks, and other packaged food offerings.

The company sells products through retail stores, restaurants, food-service providers, e-commerce platforms, and other distribution channels. PepsiCo serves consumers in North America and international markets across Latin America, Europe, Africa, the Middle East, and Asia-Pacific.