Financial Management Professionals Inc. lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,120 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Financial Management Professionals Inc.’s holdings in PepsiCo were worth $291,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Personal Wealth Partners purchased a new position in PepsiCo during the 2nd quarter valued at $25,000. Krane Funds Advisors LLC purchased a new position in PepsiCo during the 2nd quarter valued at $25,000. Evolution Wealth Advisors LLC purchased a new position in PepsiCo during the 2nd quarter valued at $27,000. Financial Advantage Inc. purchased a new position in PepsiCo during the 2nd quarter valued at $28,000. Finally, Mackey Komara & Dankovich LLC lifted its holdings in shares of PepsiCo by 199.0% in the 2nd quarter. Mackey Komara & Dankovich LLC now owns 858 shares of the company’s stock worth $38,000 after buying an additional 571 shares during the period. Hedge funds and other institutional investors own 71.46% of the company’s stock.
In other PepsiCo news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the transaction, the chief executive officer now owns 105,350 shares of the company’s stock, valued at $13,500,602.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is owned by corporate insiders.
Several research analysts have recently commented on the company. Atlantic Securities assumed coverage on PepsiCo in a research report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price target for the company. Cowen boosted their price target on PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Credit Suisse Group boosted their price target on PepsiCo from $117.00 to $126.00 and gave the stock an “underperform” rating in a research report on Friday, October 4th. Bank of America boosted their price target on PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley boosted their price target on PepsiCo from $149.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $135.53.
PEP stock traded down $0.28 during mid-day trading on Friday, reaching $137.61. 288,501 shares of the company’s stock were exchanged, compared to its average volume of 4,508,839. The company has a market cap of $191.37 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.57 and a beta of 0.56. The stock’s 50 day moving average is $135.89 and its 200 day moving average is $130.57. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77. PepsiCo, Inc. has a 12-month low of $104.53 and a 12-month high of $140.45.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.06. The company had revenue of $17.19 billion for the quarter, compared to the consensus estimate of $16.93 billion. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. PepsiCo’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.59 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 5.5 earnings per share for the current fiscal year.
PepsiCo Company 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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