Orrstown Financial Services Inc. Purchases 4,304 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Orrstown Financial Services Inc. boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 73.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,153 shares of the company’s stock after acquiring an additional 4,304 shares during the quarter. Orrstown Financial Services Inc.’s holdings in PepsiCo were worth $1,727,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Tributary Capital Management LLC bought a new stake in shares of PepsiCo during the 1st quarter worth $89,000. Iams Wealth Management LLC boosted its holdings in shares of PepsiCo by 12.9% in the 1st quarter. Iams Wealth Management LLC now owns 6,216 shares of the company’s stock worth $1,038,000 after purchasing an additional 712 shares in the last quarter. Cullinan Associates Inc. increased its position in shares of PepsiCo by 1.6% during the 1st quarter. Cullinan Associates Inc. now owns 29,588 shares of the company’s stock valued at $5,178,000 after purchasing an additional 463 shares during the last quarter. Westhampton Capital LLC raised its holdings in shares of PepsiCo by 2.8% during the 1st quarter. Westhampton Capital LLC now owns 27,802 shares of the company’s stock valued at $4,866,000 after buying an additional 763 shares in the last quarter. Finally, Financial Strategies Group Inc. grew its position in PepsiCo by 26.8% during the first quarter. Financial Strategies Group Inc. now owns 22,664 shares of the company’s stock valued at $3,867,000 after acquiring an additional 4,789 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 1.1 %

Shares of PepsiCo stock opened at $169.84 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The company has a market cap of $233.49 billion, a P/E ratio of 24.65, a PEG ratio of 3.20 and a beta of 0.53. The company’s fifty day simple moving average is $173.78 and its two-hundred day simple moving average is $172.29.

PepsiCo (NASDAQ:PEP) 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 for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the company earned $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PEP. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Company 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.