Massachusetts Financial Services Co. MA Has $1.37 Billion Holdings in PepsiCo, Inc. $PEP

Massachusetts Financial Services Co. MA decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.6% in the second quarter, Holdings Channel reports. The fund owned 10,377,126 shares of the company’s stock after selling 501,592 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PepsiCo were worth $1,370,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Nova Wealth Management Inc. bought a new position in PepsiCo in the 1st quarter worth approximately $25,000. Legend Financial Advisors Inc. bought a new position in PepsiCo during the second quarter worth $29,000. Frazier Financial Advisors LLC boosted its holdings in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares during the period. RMG Wealth Management LLC bought a new position in shares of PepsiCo during the 2nd quarter worth about $45,000. Finally, Investment Research & Advisory Group Inc. raised its position in shares of PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.6%

Shares of PEP opened at $145.85 on Friday. The stock has a fifty day moving average price of $144.95 and a two-hundred day moving average price of $139.99. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a market cap of $199.43 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $165.13.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same period last year, the company posted $2.31 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEP. Rothschild & Co Redburn lifted their target price on PepsiCo from $115.00 to $117.00 and gave the stock a “sell” rating in a research report on Monday, October 13th. HSBC lifted their price objective on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Barclays upped their target price on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. The Goldman Sachs Group boosted their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Finally, Piper Sandler raised their price objective on shares of PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $156.95.

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.