Frank Rimerman Advisors LLC Grows Stock Holdings in PepsiCo, Inc. $PEP

Frank Rimerman Advisors LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 35.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,464 shares of the company’s stock after purchasing an additional 3,555 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in PepsiCo were worth $1,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEP. Nuveen LLC purchased a new stake in PepsiCo in the 1st quarter valued at about $946,978,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of PepsiCo in the second quarter worth approximately $460,110,000. Acadian Asset Management LLC grew its holdings in PepsiCo by 175.7% in the second quarter. Acadian Asset Management LLC now owns 2,969,635 shares of the company’s stock valued at $392,076,000 after purchasing an additional 1,892,469 shares during the period. Vanguard Group Inc. increased its position in PepsiCo by 1.4% during the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after purchasing an additional 1,802,748 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company’s stock worth $3,969,698,000 after purchasing an additional 1,258,198 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $148.77 on Wednesday. The business’s 50-day simple moving average is $145.19 and its 200 day simple moving average is $140.27. The company has a market cap of $203.42 billion, a P/E ratio of 28.28, a PEG ratio of 3.56 and a beta of 0.45. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $165.13.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. PepsiCo’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEP. The Goldman Sachs Group boosted their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Barclays lifted their target price on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. Royal Bank Of Canada cut their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Finally, DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a report on Tuesday, October 21st. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo 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.