Cullinan Associates Inc. Buys 200 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cullinan Associates Inc. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,793 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Cullinan Associates Inc.’s holdings in PepsiCo were worth $5,048,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Meixler Investment Management Ltd. boosted its position in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares during the last quarter. Opes Wealth Management LLC boosted its holdings in shares of PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton lifted its position in PepsiCo by 2.3% during the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after buying an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its stake in PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on PEP shares. Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Finally, Jefferies Financial Group reduced their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.7 %

Shares of NASDAQ PEP traded up $1.21 during midday trading on Friday, hitting $173.37. The company’s stock had a trading volume of 269,464 shares, compared to its average volume of 5,449,601. The firm has a market capitalization of $238.35 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 3.25 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The business’s fifty day simple moving average is $173.88 and its two-hundred day simple moving average is $172.23.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the prior year, the company earned $2.25 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, equities analysts predict 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.