Natixis Increases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Natixis raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 336.1% in the second quarter, Holdings Channel.com reports. The fund owned 201,934 shares of the company’s stock after buying an additional 155,627 shares during the quarter. Natixis’ holdings in PepsiCo were worth $29,921,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Paragon Wealth Strategies LLC acquired a new position in shares of PepsiCo in the second quarter worth about $30,000. Cowen Prime Advisors LLC bought a new position in shares of PepsiCo during the second quarter valued at approximately $34,000. Financial Insights Inc. bought a new position in shares of PepsiCo during the second quarter valued at approximately $36,000. AGF Investments LLC bought a new position in PepsiCo in the 2nd quarter worth approximately $37,000. Finally, Twin Lakes Capital Management LLC bought a new position in PepsiCo in the 2nd quarter worth approximately $48,000. 70.55% of the stock is owned by hedge funds and other institutional investors.

Shares of PEP traded up $0.98 during mid-day trading on Thursday, reaching $158.97. The company’s stock had a trading volume of 6,600 shares, compared to its average volume of 4,897,530. The business has a fifty day moving average of $155.19 and a 200 day moving average of $150.35. The company has a market cap of $219.80 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60. PepsiCo, Inc. has a 1 year low of $128.32 and a 1 year high of $159.63. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 2.47.

PepsiCo (NASDAQ:PEP) last released its earnings results on Monday, October 4th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.06. The company had revenue of $20.19 billion during the quarter, compared to analyst estimates of $19.39 billion. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 6.24 earnings per share for the current year.

A number of brokerages recently issued reports on PEP. Truist increased their price objective on PepsiCo from $135.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, July 14th. Royal Bank of Canada increased their price objective on PepsiCo from $153.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 14th. Morgan Stanley upped their target price on PepsiCo from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 14th. Wells Fargo & Company upped their target price on PepsiCo from $147.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 14th. Finally, Evercore ISI restated a “hold” rating and issued a $160.00 target price on shares of PepsiCo in a research report on Thursday, October 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $162.86.

In other news, SVP Marie T. Gallagher sold 7,409 shares of the company’s stock in a transaction on Monday, July 19th. The shares were sold at an average price of $155.70, for a total value of $1,153,581.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

See Also: Initial Coin Offering (ICO)

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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