Metis Global Partners LLC Has $8.76 Million Position in PepsiCo, Inc. $PEP

Metis Global Partners LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,357 shares of the company’s stock after selling 7,096 shares during the period. Metis Global Partners LLC’s holdings in PepsiCo were worth $8,762,000 as of its most recent filing with the Securities and Exchange Commission.

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

PepsiCo Price Performance

Shares of PepsiCo stock opened at $142.95 on Friday. The firm’s 50-day simple moving average is $145.31 and its 200-day simple moving average is $139.75. 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 cap of $195.46 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $166.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share 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 business posted $2.31 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PEP shares. Evercore ISI boosted their target price on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Jefferies Financial Group increased their price target on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a report on Friday, October 10th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 21st. Morgan Stanley increased their target price on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock 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.