CIBC Asset Management Inc Has $90.91 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

CIBC Asset Management Inc boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 534,607 shares of the company’s stock after purchasing an additional 33,679 shares during the period. CIBC Asset Management Inc’s holdings in PepsiCo were worth $90,910,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PEP. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in shares of PepsiCo by 1.2% during the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 6,561 shares of the company’s stock worth $1,116,000 after buying an additional 76 shares during the period. Intellectus Partners LLC lifted its holdings in PepsiCo by 23.4% during the 3rd quarter. Intellectus Partners LLC now owns 9,722 shares of the company’s stock valued at $1,653,000 after purchasing an additional 1,843 shares during the last quarter. Balboa Wealth Partners boosted its position in PepsiCo by 2.8% in the third quarter. Balboa Wealth Partners now owns 2,611 shares of the company’s stock valued at $444,000 after buying an additional 72 shares in the last quarter. Oak Harbor Wealth Partners LLC increased its holdings in shares of PepsiCo by 3.3% during the third quarter. Oak Harbor Wealth Partners LLC now owns 6,461 shares of the company’s stock worth $1,099,000 after buying an additional 204 shares in the last quarter. Finally, Sargent Investment Group LLC raised its stake in shares of PepsiCo by 5.9% in the third quarter. Sargent Investment Group LLC now owns 5,937 shares of the company’s stock valued at $1,010,000 after acquiring an additional 332 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.2 %

PepsiCo stock opened at $165.15 on Friday. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The firm has a market capitalization of $226.58 billion, a PE ratio of 24.36, a P/E/G ratio of 3.07 and a beta of 0.53. The company’s 50-day moving average is $171.48 and its 200-day moving average is $171.72. 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 (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the firm posted $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PEP shares. Barclays reduced their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

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.