Acadian Asset Management LLC Acquires 1,892,469 Shares of PepsiCo, Inc. $PEP

Acadian Asset Management LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 175.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,969,635 shares of the company’s stock after purchasing an additional 1,892,469 shares during the quarter. PepsiCo accounts for 0.8% of Acadian Asset Management LLC’s portfolio, making the stock its 27th largest holding. Acadian Asset Management LLC owned approximately 0.22% of PepsiCo worth $392,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. Brighton Jones LLC grew its holdings in shares of PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after purchasing an additional 6,574 shares during the last quarter. Lane & Associates LLC lifted its holdings in PepsiCo by 5.8% during the 1st quarter. Lane & Associates LLC now owns 2,221 shares of the company’s stock valued at $333,000 after purchasing an additional 122 shares during the last quarter. IFC Advisors LLC boosted its position in PepsiCo by 2.9% in the first quarter. IFC Advisors LLC now owns 8,770 shares of the company’s stock valued at $1,315,000 after buying an additional 249 shares in the last quarter. PYA Waltman Capital LLC grew its stake in PepsiCo by 7.6% during the first quarter. PYA Waltman Capital LLC now owns 18,220 shares of the company’s stock worth $2,732,000 after buying an additional 1,283 shares during the last quarter. Finally, SkyOak Wealth LLC increased its holdings in shares of PepsiCo by 5.2% during the first quarter. SkyOak Wealth LLC now owns 6,107 shares of the company’s stock worth $916,000 after buying an additional 300 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PEP shares. The Goldman Sachs Group increased their price target on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Piper Sandler raised their target price on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Barclays upped their price target on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Finally, Evercore ISI boosted their target price on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Performance

PepsiCo stock opened at $142.95 on Friday. The company has a market cap of $195.46 billion, a PE ratio of 27.18, a PEG ratio of 3.56 and a beta of 0.45. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $166.88. The company’s 50-day moving average is $145.31 and its two-hundred day moving average is $139.73.

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