892,381 Shares in PepsiCo, Inc. (NASDAQ:PEP) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 892,381 shares of the company’s stock, valued at approximately $151,749,000. Janney Montgomery Scott LLC owned about 0.06% of PepsiCo at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter valued at $28,000. POM Investment Strategies LLC boosted its holdings in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC acquired a new stake in PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo during the 2nd quarter worth about $34,000. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PEP. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Barclays lowered 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. Finally, JPMorgan Chase & Co. decreased 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. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

NASDAQ:PEP opened at $165.59 on Friday. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $227.19 billion, a PE ratio of 24.42, a P/E/G ratio of 3.09 and a beta of 0.53. The firm has a fifty day simple moving average of $173.03 and a 200 day simple moving average of $172.23.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The company 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 revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 earnings per share. On average, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

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.