Connable Office Inc. Buys 89 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Connable Office Inc. grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,861 shares of the company’s stock after buying an additional 89 shares during the period. Connable Office Inc.’s holdings in PepsiCo were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Trillium Asset Management LLC raised its stake in PepsiCo by 5.5% during the 1st quarter. Trillium Asset Management LLC now owns 3,370 shares of the company’s stock worth $590,000 after buying an additional 177 shares during the period. M&G Plc bought a new position in shares of PepsiCo during the 1st quarter valued at about $72,020,000. Mizuho Markets Americas LLC grew its position in shares of PepsiCo by 114.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 60,479 shares of the company’s stock valued at $10,584,000 after purchasing an additional 32,236 shares during the period. Councilmark Asset Management LLC bought a new stake in PepsiCo during the 1st quarter worth approximately $754,000. Finally, Nicolet Advisory Services LLC lifted its stake in PepsiCo by 1.1% in the first quarter. Nicolet Advisory Services LLC now owns 40,851 shares of the company’s stock valued at $6,970,000 after buying an additional 428 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of 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 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. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada dropped their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report 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. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Up 0.2 %

PEP stock opened at $165.15 on Friday. The stock has a market cap of $226.58 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a fifty day moving average price of $171.48 and a two-hundred day moving average price of $171.72. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. 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 (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.25 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

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.