Successful Portfolios LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,278 shares of the company’s stock after buying an additional 122 shares during the quarter. Successful Portfolios LLC’s holdings in PepsiCo were worth $449,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Personal Wealth Partners purchased a new position in PepsiCo during the 2nd quarter valued at about $25,000. Krane Funds Advisors LLC purchased a new position in PepsiCo during the 2nd quarter valued at about $25,000. Evolution Wealth Advisors LLC purchased a new position in PepsiCo during the 2nd quarter valued at about $27,000. Financial Advantage Inc. purchased a new position in PepsiCo during the 2nd quarter valued at about $28,000. Finally, Mackey Komara & Dankovich LLC grew its holdings in PepsiCo by 199.0% during the 2nd quarter. Mackey Komara & Dankovich LLC now owns 858 shares of the company’s stock valued at $38,000 after buying an additional 571 shares in the last quarter. 71.46% of the stock is owned by institutional investors and hedge funds.
PEP has been the subject of a number of recent analyst reports. ValuEngine lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. set a $154.00 price objective on PepsiCo and gave the stock a “buy” rating in a report on Thursday, October 3rd. Guggenheim set a $130.00 price objective on PepsiCo and gave the stock a “hold” rating in a report on Thursday, September 26th. Argus reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 11th. Finally, Jefferies Financial Group boosted their price objective on PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $135.53.
In related news, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value of $1,226,779.95. Following the completion of the sale, the chief executive officer now owns 105,350 shares in the company, valued at approximately $13,500,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.28% of the company’s stock.
Shares of NASDAQ PEP traded down $0.25 during midday trading on Friday, hitting $137.64. 2,761,022 shares of the company’s stock were exchanged, compared to its average volume of 4,508,839. PepsiCo, Inc. has a 12-month low of $104.53 and a 12-month high of $140.45. 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 company has a market cap of $191.37 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 3.57 and a beta of 0.56. The business’s fifty day moving average price is $135.89 and its two-hundred day moving average price is $130.57.
PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.06. The company had revenue of $17.19 billion during 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 quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 EPS. Equities analysts expect that PepsiCo, Inc. will post 5.5 earnings per share for the current fiscal year.
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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