Mizuho Securities USA LLC Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Mizuho Securities USA LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 682.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 829,500 shares of the company’s stock after buying an additional 723,504 shares during the period. PepsiCo makes up about 0.4% of Mizuho Securities USA LLC’s investment portfolio, making the stock its 29th largest holding. Mizuho Securities USA LLC owned 0.06% of PepsiCo worth $141,056,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter worth about $28,000. POM Investment Strategies LLC lifted its stake in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. lifted its position in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Bank of America reduced their price target 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 report on Thursday, October 10th. Finally, TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a report 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 issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

NASDAQ PEP opened at $158.62 on Friday. 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, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The business has a 50 day simple moving average of $170.82 and a two-hundred day simple moving average of $171.56. The stock has a market capitalization of $217.63 billion, a PE ratio of 23.40, a P/E/G ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the firm posted $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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.