Welch Group LLC Has $53.24 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Welch Group LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 313,111 shares of the company’s stock after buying an additional 7,461 shares during the quarter. PepsiCo accounts for approximately 2.3% of Welch Group LLC’s portfolio, making the stock its 23rd biggest position. Welch Group LLC’s holdings in PepsiCo were worth $53,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after acquiring an additional 561,465 shares during the period. Ameriprise Financial Inc. raised its stake in shares of PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG lifted its position in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after buying an additional 1,832,385 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. One 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.com, the company has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Down 0.3 %

Shares of PEP traded down $0.50 during trading hours on Monday, hitting $171.29. The company had a trading volume of 504,350 shares, compared to its average volume of 5,445,890. The stock has a market capitalization of $235.49 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 3.25 and a beta of 0.53. The firm has a fifty day moving average price of $173.86 and a 200-day moving average price of $172.28. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last posted its 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 for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.25 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo 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.