OVERSEA CHINESE BANKING Corp Ltd Takes $4.93 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,024 shares of the company’s stock, valued at approximately $4,932,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEP. WealthPlan Investment Management LLC boosted its stake in PepsiCo by 7.3% during the third quarter. WealthPlan Investment Management LLC now owns 77,903 shares of the company’s stock valued at $13,247,000 after buying an additional 5,296 shares during the period. Everhart Financial Group Inc. grew its holdings in shares of PepsiCo by 11.9% during the third quarter. Everhart Financial Group Inc. now owns 8,520 shares of the company’s stock worth $1,449,000 after purchasing an additional 905 shares in the last quarter. WCM Investment Management LLC raised its stake in PepsiCo by 329.3% in the third quarter. WCM Investment Management LLC now owns 5,933 shares of the company’s stock valued at $1,009,000 after purchasing an additional 4,551 shares in the last quarter. Tacita Capital Inc grew its stake in PepsiCo by 16.8% in the 3rd quarter. Tacita Capital Inc now owns 2,478 shares of the company’s stock worth $421,000 after buying an additional 356 shares in the last quarter. Finally, Loudon Investment Management LLC increased its holdings in shares of PepsiCo by 9.2% in the 3rd quarter. Loudon Investment Management LLC now owns 8,744 shares of the company’s stock worth $1,487,000 after buying an additional 740 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PEP shares. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

PEP opened at $164.34 on Wednesday. The stock has a market capitalization of $225.47 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. The stock’s 50 day moving average price is $172.02 and its 200-day moving average price is $171.85. 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 released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 earnings per share. On average, equities research 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.