Keudell Morrison Wealth Management Acquires 913 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Keudell Morrison Wealth Management boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 30.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,884 shares of the company’s stock after purchasing an additional 913 shares during the period. Keudell Morrison Wealth Management’s holdings in PepsiCo were worth $660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares during the period. Swedbank AB increased its position in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. increased its position in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares during the last quarter. Legal & General Group Plc increased its position in shares of PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of PepsiCo in the third quarter valued at about $151,749,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded down $0.56 during trading on Thursday, reaching $164.15. 739,761 shares of the stock were exchanged, compared to its average volume of 5,446,441. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month high of $183.41. The firm has a market cap of $225.21 billion, a PE ratio of 24.29, a PEG ratio of 3.10 and a beta of 0.53. The stock has a 50-day moving average price of $172.50 and a 200-day moving average price of $172.11. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The business 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 firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.25 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent research reports. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $183.92.

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.