Cumberland Partners Ltd Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cumberland Partners Ltd boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,055 shares of the company’s stock after acquiring an additional 2,355 shares during the quarter. Cumberland Partners Ltd’s holdings in PepsiCo were worth $3,070,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Meixler Investment Management Ltd. raised its stake in PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC increased its holdings in shares of PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after acquiring an additional 59 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton boosted its holdings in PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC increased its stake in PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price 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. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

PepsiCo stock traded down $0.23 during midday trading on Tuesday, reaching $164.03. The company’s stock had a trading volume of 858,011 shares, compared to its average volume of 5,434,035. The firm has a market capitalization of $225.05 billion, a PE ratio of 24.23, a P/E/G ratio of 3.08 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 stock’s 50 day simple moving average is $172.02 and its 200 day simple moving average is $171.85. 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, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 earnings per share. On average, equities research analysts forecast 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.