PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 59.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,250 shares of the company’s stock after buying an additional 52,850 shares during the period. Intact Investment Management Inc.’s holdings in PepsiCo were worth $24,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEP. International Assets Investment Management LLC boosted its holdings in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the period. Flossbach Von Storch AG boosted its holdings in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the period. Swedbank AB boosted its holdings in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the period. PineStone Asset Management Inc. boosted its holdings in shares of PepsiCo by 125.2% during the second 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. Finally, Legal & General Group Plc boosted its holdings in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEP. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Bank of America reduced their price objective 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. DZ Bank downgraded shares of 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. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.3 %

NASDAQ PEP opened at $165.59 on Monday. The firm’s 50 day moving average price is $173.03 and its two-hundred day moving average price is $172.25. The stock has a market cap of $227.19 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.09 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. 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 (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating 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 company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company earned $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

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.