Rockefeller Capital Management L.P. Purchases 37,512 Shares of PepsiCo, Inc. $PEP

Rockefeller Capital Management L.P. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 678,436 shares of the company’s stock after acquiring an additional 37,512 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in PepsiCo were worth $89,581,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nova Wealth Management Inc. purchased a new position in shares of PepsiCo during the 1st quarter worth $25,000. Legend Financial Advisors Inc. bought a new position in shares of PepsiCo in the second quarter worth about $29,000. Frazier Financial Advisors LLC lifted its position in shares of PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares in the last quarter. RMG Wealth Management LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at approximately $45,000. Finally, Investment Research & Advisory Group Inc. increased its holdings in PepsiCo by 263.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $145.85 on Friday. The stock’s fifty day moving average is $144.95 and its two-hundred day moving average is $140.03. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $165.13. 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 firm has a market capitalization of $199.43 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS 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 firm had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEP. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Piper Sandler upped their target price on shares of PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Barclays raised their price target on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Evercore ISI upped their price objective on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Finally, Wells Fargo & Company upped their price target on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.