Tower Bridge Advisors Has $16.17 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Tower Bridge Advisors lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,083 shares of the company’s stock after selling 1,050 shares during the period. PepsiCo accounts for 1.7% of Tower Bridge Advisors’ portfolio, making the stock its 14th largest holding. Tower Bridge Advisors’ holdings in PepsiCo were worth $16,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the period. M&G Plc boosted its stake in PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after acquiring an additional 14,724 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in PepsiCo by 3.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after acquiring an additional 4,547 shares during the period. Fiduciary Family Office LLC raised its position in shares of PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after acquiring an additional 3,727 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its stake in shares of PepsiCo by 4.6% in the 3rd quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock valued at $64,432,000 after purchasing an additional 16,523 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 4.0 %

PEP stock opened at $158.62 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock has a market capitalization of $217.63 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.96 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The business has a 50-day moving average of $170.82 and a 200-day moving average of $171.53.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PEP shares. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average target price of $183.92.

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.