ABC Arbitrage SA Raises Holdings in PepsiCo, Inc. $PEP

ABC Arbitrage SA lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,492 shares of the company’s stock after purchasing an additional 349 shares during the quarter. ABC Arbitrage SA’s holdings in PepsiCo were worth $1,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new stake in PepsiCo during the 1st quarter worth $25,000. Legend Financial Advisors Inc. purchased a new stake in shares of PepsiCo in the second quarter valued at about $29,000. Frazier Financial Advisors LLC boosted its stake in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after buying an additional 122 shares during the period. Investment Research & Advisory Group Inc. grew its holdings in shares of PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after buying an additional 232 shares during the last quarter. Finally, RMG Wealth Management LLC acquired a new position in PepsiCo in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PEP shares. Royal Bank Of Canada cut their price objective on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Barclays boosted their price target on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Rothschild & Co Redburn lifted their price objective on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a report on Monday, October 13th. Finally, BNP Paribas Exane cut their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo Stock Performance

PEP opened at $144.39 on Thursday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $166.88. The stock has a market cap of $197.43 billion, a P/E ratio of 27.45, a P/E/G ratio of 3.56 and a beta of 0.45. The stock’s 50 day simple moving average is $145.00 and its 200 day simple moving average is $139.87. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

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

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.