Welch Group LLC Has $53.24 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Welch Group LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,111 shares of the company’s stock after acquiring an additional 7,461 shares during the period. PepsiCo makes up 2.3% of Welch Group LLC’s portfolio, making the stock its 23rd biggest holding. Welch Group LLC’s holdings in PepsiCo were worth $53,244,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Legal & General Group Plc lifted its position 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 worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the period. Ameriprise Financial Inc. boosted its holdings in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG raised its holdings in PepsiCo by 67.2% during the 1st 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 last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PEP shares. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company cut their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group decreased their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, 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 note on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, PepsiCo has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of PEP stock traded down $0.50 on Monday, reaching $171.29. The company had a trading volume of 504,350 shares, compared to its average volume of 5,445,890. The business’s 50-day moving average is $173.86 and its 200 day moving average is $172.28. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $235.49 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.25 and a beta of 0.53.

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. The firm 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 company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $2.25 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.