Raymond James Trust N.A. Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)
Raymond James Trust N.A. grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,805 shares of the company’s stock after buying an additional 2,090 shares during the quarter. Raymond James Trust N.A.’s holdings in PepsiCo were worth $14,664,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in PepsiCo by 6.0% during the second quarter. Vanguard Group Inc. now owns 124,559,499 shares of the company’s stock worth $16,474,240,000 after buying an additional 7,075,509 shares during the last quarter. State Street Corp raised its holdings in shares of PepsiCo by 0.4% in the 1st quarter. State Street Corp now owns 66,071,399 shares of the company’s stock valued at $7,935,175,000 after buying an additional 291,943 shares during the period. California Public Employees Retirement System raised its holdings in shares of PepsiCo by 4.7% in the 2nd quarter. California Public Employees Retirement System now owns 9,598,484 shares of the company’s stock valued at $1,269,495,000 after buying an additional 430,695 shares during the period. Swiss National Bank raised its holdings in shares of PepsiCo by 0.4% in the 2nd quarter. Swiss National Bank now owns 6,514,679 shares of the company’s stock valued at $861,631,000 after buying an additional 27,400 shares during the period. Finally, Nordea Investment Management AB increased its holdings in PepsiCo by 161.6% during the 2nd quarter. Nordea Investment Management AB now owns 5,935,150 shares of the company’s stock worth $781,896,000 after purchasing an additional 3,666,099 shares during the period. 70.16% of the stock is currently owned by hedge funds and other institutional investors.
PEP has been the subject of several analyst reports. BidaskClub cut PepsiCo from a “hold” rating to a “sell” rating in a research report on Friday, October 9th. SunTrust Banks upped their price objective on PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price objective for the company. in a research report on Friday, September 18th. Morgan Stanley upped their price objective on PepsiCo from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. Finally, UBS Group upped their price objective on PepsiCo from $140.00 to $146.00 in a research report on Friday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. PepsiCo presently has an average rating of “Buy” and an average target price of $144.13.
PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, October 1st. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.17. The business had revenue of $18.09 billion during the quarter, compared to the consensus estimate of $17.24 billion. PepsiCo had a return on equity of 54.77% and a net margin of 10.13%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 EPS. Equities analysts predict that PepsiCo, Inc. will post 5.34 earnings per share for the current year.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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