Westchester Capital Management Inc. Buys 692 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Westchester Capital Management Inc. raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,169 shares of the company’s stock after purchasing an additional 692 shares during the quarter. PepsiCo accounts for about 0.5% of Westchester Capital Management Inc.’s holdings, making the stock its 28th biggest holding. Westchester Capital Management Inc.’s holdings in PepsiCo were worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter worth $28,000. POM Investment Strategies LLC boosted its position in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo during the second quarter valued at about $30,000. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.7 %

Shares of NASDAQ:PEP opened at $165.11 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The firm has a market capitalization of $226.53 billion, a P/E ratio of 24.35, a P/E/G ratio of 3.07 and a beta of 0.53. The stock has a 50 day moving average price of $172.19 and a 200-day moving average price of $171.97.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on PEP. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.