Concord Asset Management LLC VA Buys 1,460 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Concord Asset Management LLC VA grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 17,234 shares of the company’s stock after acquiring an additional 1,460 shares during the period. Concord Asset Management LLC VA’s holdings in PepsiCo were worth $2,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after buying an additional 3,201,676 shares during the period. Swedbank AB increased its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. lifted its position in PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares during the period. Legal & General Group Plc boosted its stake in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in PepsiCo in the third quarter worth about $151,749,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 4.0 %

Shares of PepsiCo stock opened at $158.62 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. The company has a fifty day moving average of $170.82 and a 200 day moving average of $171.53. The company 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.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $23.86 billion. During the same quarter last year, the business posted $2.25 earnings per share. The firm’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.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

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.