Ballentine Partners LLC Has $5.03 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Ballentine Partners LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,565 shares of the company’s stock after purchasing an additional 4,566 shares during the period. Ballentine Partners LLC’s holdings in PepsiCo were worth $5,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PEP. Moody Lynn & Lieberson LLC increased its holdings in shares of PepsiCo by 14.6% during the third quarter. Moody Lynn & Lieberson LLC now owns 124,323 shares of the company’s stock worth $21,141,000 after purchasing an additional 15,822 shares during the period. Cross Staff Investments Inc raised its holdings in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares in the last quarter. West Michigan Advisors LLC raised its stake in PepsiCo by 1.5% during the third quarter. West Michigan Advisors LLC now owns 4,784 shares of the company’s stock worth $814,000 after acquiring an additional 70 shares in the last quarter. Nicholson Wealth Management Group LLC bought a new position in PepsiCo in the 3rd quarter valued at approximately $1,727,000. Finally, Mainstay Capital Management LLC ADV lifted its stake in shares of PepsiCo by 7.3% in the 3rd quarter. Mainstay Capital Management LLC ADV now owns 4,842 shares of the company’s stock valued at $823,000 after acquiring an additional 330 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.5 %

NASDAQ PEP opened at $172.16 on Friday. The stock has a market capitalization of $236.68 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.25 and a beta of 0.53. The business has a 50 day simple moving average of $173.88 and a 200 day simple moving average of $172.23. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41.

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

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.