Amalgamated Bank Has $48.86 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Amalgamated Bank decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 287,349 shares of the company’s stock after selling 4,321 shares during the period. Amalgamated Bank’s holdings in PepsiCo were worth $48,864,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Meixler Investment Management Ltd. raised its holdings in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after acquiring an additional 58 shares in the last quarter. Opes Wealth Management LLC raised its holdings in 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 in the last quarter. Global Wealth Strategies & Associates raised its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Bank of Stockton raised its holdings in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after acquiring an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC raised its holdings in PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PEP shares. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered their price target on 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 price target for the company. in a report on Friday, July 19th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of PEP opened at $166.34 on Tuesday. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The business has a 50-day simple moving average of $172.84 and a two-hundred day simple moving average of $172.20. 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 cap of $228.22 billion, a PE ratio of 24.53, a PEG ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 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 firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share 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.