PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Townsend & Associates Inc

Townsend & Associates Inc lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 328.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,072 shares of the company’s stock after acquiring an additional 13,089 shares during the period. Townsend & Associates Inc’s holdings in PepsiCo were worth $2,953,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates increased its holdings in shares of 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 period. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC lifted its stake in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.7 %

Shares of PepsiCo stock opened at $165.11 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $226.53 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The company has a 50-day simple moving average of $172.19 and a 200 day simple moving average of $171.97.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Barclays cut their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $183.92.

About PepsiCo

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.