Keene & Associates Inc. Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Keene & Associates Inc. increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,097 shares of the company’s stock after buying an additional 156 shares during the period. PepsiCo comprises about 2.5% of Keene & Associates Inc.’s investment portfolio, making the stock its 20th largest position. Keene & Associates Inc.’s holdings in PepsiCo were worth $3,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Legal & General Group Plc grew its position in shares of PepsiCo by 7.2% in the 2nd 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. Massachusetts Financial Services Co. MA boosted its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the period. Dimensional Fund Advisors LP increased its stake in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG lifted its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.8 %

Shares of PepsiCo stock opened at $172.95 on Thursday. The business has a fifty day simple moving average of $173.88 and a 200-day simple moving average of $172.23. The firm has a market cap of $237.29 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 3.26 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 company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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 net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo 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.