IBM Retirement Fund Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

IBM Retirement Fund lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 21,539 shares of the company’s stock after selling 248 shares during the period. IBM Retirement Fund’s holdings in PepsiCo were worth $2,953,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bath Savings Trust Co grew its position in shares of PepsiCo by 5.6% in the 2nd quarter. Bath Savings Trust Co now owns 30,160 shares of the company’s stock worth $3,955,000 after buying an additional 1,593 shares during the last quarter. First Financial Bank Trust Division grew its position in shares of PepsiCo by 1.2% in the 2nd quarter. First Financial Bank Trust Division now owns 83,155 shares of the company’s stock worth $10,904,000 after buying an additional 969 shares during the last quarter. Private Trust Co. NA grew its position in shares of PepsiCo by 0.4% in the 2nd quarter. Private Trust Co. NA now owns 41,099 shares of the company’s stock worth $5,389,000 after buying an additional 163 shares during the last quarter. Baystate Wealth Management LLC grew its position in shares of PepsiCo by 3.7% in the 2nd quarter. Baystate Wealth Management LLC now owns 4,385 shares of the company’s stock worth $578,000 after buying an additional 156 shares during the last quarter. Finally, Deane Retirement Strategies Inc. boosted its position in shares of PepsiCo by 1.3% during the second quarter. Deane Retirement Strategies Inc. now owns 19,303 shares of the company’s stock valued at $2,531,000 after purchasing an additional 247 shares in the last quarter. Institutional investors and hedge funds own 71.81% of the company’s stock.

PEP has been the topic of several research reports. Citigroup lifted their price target on PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Credit Suisse Group lifted their price target on PepsiCo from $117.00 to $126.00 and gave the company an “underperform” rating in a research report on Friday, October 4th. Guggenheim set a $130.00 price target on PepsiCo and gave the company a “hold” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. set a $154.00 price target on PepsiCo and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, BidaskClub lowered PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $135.53.

Shares of PEP stock traded up $1.29 during mid-day trading on Wednesday, hitting $133.27. The company’s stock had a trading volume of 264,394 shares, compared to its average volume of 4,479,897. PepsiCo, Inc. has a 52-week low of $105.03 and a 52-week high of $140.45. The business has a 50-day moving average price of $136.37 and a 200 day moving average price of $132.64. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.95. The stock has a market cap of $185.64 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 3.46 and a beta of 0.56.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.06. The firm had revenue of $17.19 billion during the quarter, compared to analysts’ expectations of $16.93 billion. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 5.5 EPS for the current fiscal year.

PepsiCo Profile

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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