AGF Management Ltd. Raises Position in PepsiCo, Inc. $PEP

AGF Management Ltd. increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 233.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,442 shares of the company’s stock after purchasing an additional 17,808 shares during the period. AGF Management Ltd.’s holdings in PepsiCo were worth $3,359,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its holdings in shares of PepsiCo by 1.3% during the 1st quarter. Summit Investment Advisors Inc. now owns 82,949 shares of the company’s stock worth $12,437,000 after acquiring an additional 1,032 shares during the period. AE Wealth Management LLC increased its position in PepsiCo by 5.5% during the second quarter. AE Wealth Management LLC now owns 208,285 shares of the company’s stock worth $27,502,000 after purchasing an additional 10,791 shares during the last quarter. Stokes Family Office LLC raised its stake in PepsiCo by 1.8% during the second quarter. Stokes Family Office LLC now owns 30,649 shares of the company’s stock worth $4,047,000 after purchasing an additional 555 shares during the period. Paradigm Asset Management Co. LLC boosted its holdings in shares of PepsiCo by 41.1% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 12,711 shares of the company’s stock valued at $1,678,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Wedbush Securities Inc. grew its stake in shares of PepsiCo by 5.6% during the 2nd quarter. Wedbush Securities Inc. now owns 41,831 shares of the company’s stock valued at $5,523,000 after buying an additional 2,223 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 1.0%

Shares of PepsiCo stock opened at $142.95 on Monday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $166.88. The company has a market capitalization of $195.46 billion, a PE ratio of 27.18, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The business has a 50-day moving average of $145.31 and a 200-day moving average of $139.71.

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

Wall Street Analysts Forecast Growth

PEP has been the topic of several research reports. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research report on Tuesday, October 21st. Morgan Stanley lifted their price objective on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Jefferies Financial Group raised their price target on shares of PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.95.

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.