Verity Asset Management Inc. Purchases 1,588 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Verity Asset Management Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 28.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,116 shares of the company’s stock after purchasing an additional 1,588 shares during the period. Verity Asset Management Inc.’s holdings in PepsiCo were worth $1,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates raised its stake 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 purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth approximately $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $164.00 on Friday. The business’s fifty day simple moving average is $172.50 and its 200 day simple moving average is $172.11. The firm has a market capitalization of $225.01 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month 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.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PEP shares. Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.