Grimes & Company Inc. Boosts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Grimes & Company Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 19.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,654 shares of the company’s stock after purchasing an additional 11,797 shares during the period. Grimes & Company Inc.’s holdings in PepsiCo were worth $12,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC grew its holdings in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in shares of 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 purchasing an additional 59 shares in the last quarter. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in PepsiCo in the 1st quarter worth approximately $35,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group cut their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.2 %

PEP traded up $0.28 during trading on Thursday, reaching $173.23. 140,486 shares of the stock traded hands, compared to its average volume of 5,454,823. The stock has a market cap of $237.67 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 3.26 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 company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock’s 50-day simple moving average is $173.88 and its two-hundred day simple moving average is $172.23.

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. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS 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.