PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Assetmark Inc.

Assetmark Inc. boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 19.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,780 shares of the company’s stock after purchasing an additional 6,704 shares during the quarter. Assetmark Inc.’s holdings in PepsiCo were worth $6,935,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Meixler Investment Management Ltd. boosted its position in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after purchasing an additional 58 shares during the last quarter. Opes Wealth Management LLC boosted its holdings in PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares during the last quarter. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% during the 3rd 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 period. Bank of Stockton raised its position in shares of 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 during the period. Finally, Oxbow Advisors LLC grew its holdings in PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. DZ Bank lowered shares of 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. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

NASDAQ PEP opened at $164.26 on Tuesday. The stock has a market cap of $225.36 billion, a PE ratio of 24.23, a P/E/G ratio of 3.08 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a 50-day moving average of $172.19 and a 200-day moving average of $171.94. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 earnings per share. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current 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.