2,825 Shares in PepsiCo, Inc. (NASDAQ:PEP) Bought by Asahi Life Asset Management CO. LTD.

by · The Markets Daily

Asahi Life Asset Management CO. LTD. bought a new position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,825 shares of the company’s stock, valued at approximately $480,000.

Several other hedge funds have also modified their holdings of the company. Meixler Investment Management Ltd. increased its position in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after acquiring an additional 58 shares during the period. Opes Wealth Management LLC grew its stake in shares of PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton lifted its position in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after acquiring an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC boosted its position in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.6 %

Shares of PEP stock traded down $0.96 during trading hours on Monday, reaching $170.83. The company had a trading volume of 829,594 shares, compared to its average volume of 5,447,453. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a 50 day moving average of $173.86 and a 200 day moving average of $172.28. The firm has a market cap of $234.85 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 3.25 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Free Report) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on PEP. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $183.92.

Get Our Latest Analysis on PEP

PepsiCo Profile

(Free Report)

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.

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