Gradient Investments LLC Purchases 1,323 Shares of PepsiCo, Inc. (NASDAQ:PEP)

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Gradient Investments LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 63.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,400 shares of the company’s stock after buying an additional 1,323 shares during the period. Gradient Investments LLC’s holdings in PepsiCo were worth $466,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Nuveen Asset Management LLC boosted its holdings in shares of PepsiCo by 9,617.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,770,327 shares of the company’s stock valued at $1,281,183,000 after purchasing an additional 9,669,780 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of PepsiCo by 13,410.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock valued at $180,626,000 after purchasing an additional 1,792,893 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of PepsiCo by 20.8% during the 2nd quarter. California Public Employees Retirement System now owns 8,887,074 shares of the company’s stock valued at $1,165,362,000 after purchasing an additional 1,528,887 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of PepsiCo by 1.4% during the 2nd quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock valued at $13,422,659,000 after purchasing an additional 1,413,723 shares during the last quarter. Finally, Railway Pension Investments Ltd bought a new position in shares of PepsiCo during the 2nd quarter valued at about $16,182,000. 71.46% of the stock is owned by institutional investors.

Shares of NASDAQ PEP opened at $137.64 on Friday. The firm’s 50-day moving average price is $136.01 and its 200-day moving average price is $130.66. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $192.22 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 3.58 and a beta of 0.56. PepsiCo, Inc. has a 12-month low of $104.53 and a 12-month high of $140.45.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.06. The firm had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $16.93 billion. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.59 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 5.5 EPS for the current fiscal year.

In related news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the sale, the chief executive officer now directly owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.

PEP has been the subject of several research reports. Guggenheim set a $130.00 price objective on shares of PepsiCo and gave the company a “hold” rating in a report on Thursday, September 26th. Morgan Stanley increased their price objective on shares of PepsiCo from $149.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Cowen increased their price objective on shares of PepsiCo from $142.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Citigroup increased their price objective on shares of PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, Credit Suisse Group increased their price objective on shares of PepsiCo from $117.00 to $126.00 and gave the company an “underperform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. PepsiCo has an average rating of “Hold” and an average target price of $135.53.

About PepsiCo

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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