Cornercap Investment Counsel Inc. Buys Shares of 11,250 PepsiCo, Inc. $PEP

Cornercap Investment Counsel Inc. bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,250 shares of the company’s stock, valued at approximately $1,485,000.

A number of other institutional investors have also recently modified their holdings of PEP. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at approximately $25,000. Legend Financial Advisors Inc. acquired a new position in shares of PepsiCo in the second quarter worth $29,000. Frazier Financial Advisors LLC raised its holdings in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares during the last quarter. Investment Research & Advisory Group Inc. raised its holdings in shares of PepsiCo by 263.6% in 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 during the last quarter. Finally, RMG Wealth Management LLC acquired a new position in shares of PepsiCo in the second quarter worth $45,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Morgan Stanley upped their target price on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Rothschild & Co Redburn upped their target price on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research note on Monday, October 13th. BNP Paribas Exane dropped their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, UBS Group dropped their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $156.95.

PepsiCo Trading Down 0.0%

NASDAQ:PEP opened at $142.86 on Thursday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $167.41. The business’s 50-day simple moving average is $145.53 and its 200 day simple moving average is $139.73. The stock has a market cap of $195.34 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 3.56 and a beta of 0.46.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

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.