Plato Investment Management Ltd Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Plato Investment Management Ltd lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 53,713 shares of the company’s stock after acquiring an additional 463 shares during the period. PepsiCo comprises 0.7% of Plato Investment Management Ltd’s investment portfolio, making the stock its 21st largest position. Plato Investment Management Ltd’s holdings in PepsiCo were worth $9,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the 3rd quarter worth $28,000. POM Investment Strategies LLC increased its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo in the second quarter valued at $30,000. Finally, Rakuten Securities Inc. lifted its holdings in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of several research analyst reports. JPMorgan Chase & Co. cut 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. 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 research report on Monday, September 30th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One equities research 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. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Up 0.2 %

NASDAQ PEP opened at $164.74 on Thursday. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The firm has a 50-day moving average price of $171.75 and a 200 day moving average price of $171.77. The stock has a market capitalization of $226.02 billion, a P/E ratio of 24.30, a P/E/G ratio of 3.06 and a beta of 0.53. 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 posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the firm earned $2.25 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current 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.