Addenda Capital Inc. raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,209 shares of the company’s stock after purchasing an additional 141 shares during the quarter. Addenda Capital Inc.’s holdings in PepsiCo were worth $6,405,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV bought a new position in shares of PepsiCo during the second quarter worth about $26,000. Evolution Wealth Advisors LLC increased its holdings in PepsiCo by 342.2% in the second quarter. Evolution Wealth Advisors LLC now owns 283 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares in the last quarter. RPG Investment Advisory LLC increased its holdings in PepsiCo by 191.0% in the second quarter. RPG Investment Advisory LLC now owns 291 shares of the company’s stock worth $38,000 after purchasing an additional 191 shares in the last quarter. Marquette Asset Management LLC bought a new stake in PepsiCo in the second quarter worth approximately $40,000. Finally, Ellevest Inc. increased its holdings in PepsiCo by 144.7% in the second quarter. Ellevest Inc. now owns 367 shares of the company’s stock worth $49,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.
PEP has been the subject of a number of research analyst reports. SunTrust Banks lifted their target price on PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Truist lifted their target price on PepsiCo from $130.00 to $135.00 in a report on Friday, October 2nd. UBS Group lifted their target price on PepsiCo from $140.00 to $146.00 in a report on Friday, October 2nd. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $148.00 to $169.00 in a research note on Monday, October 12th. Finally, BidaskClub cut PepsiCo from a “hold” rating to a “sell” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $144.13.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 1st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.17. The company had revenue of $18.09 billion for the quarter, compared to analysts’ expectations of $17.24 billion. PepsiCo had a return on equity of 54.77% and a net margin of 10.13%. PepsiCo’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.56 earnings per share. As a group, equities research analysts expect that PepsiCo, Inc. will post 5.34 earnings per share for the current year.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
Further Reading: Trading Ex-Dividend
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.