United Capital Financial Advisers LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 909,732 shares of the company’s stock after buying an additional 17,511 shares during the quarter. PepsiCo makes up 0.7% of United Capital Financial Advisers LLC’s investment portfolio, making the stock its 26th largest holding. United Capital Financial Advisers LLC owned 0.07% of PepsiCo worth $134,795,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Paragon Wealth Strategies LLC bought a new stake in shares of PepsiCo during the 2nd quarter valued at about $30,000. Cowen Prime Advisors LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $34,000. Financial Insights Inc. purchased a new position in shares of PepsiCo during the second quarter valued at approximately $36,000. AGF Investments LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $37,000. Finally, Twin Lakes Capital Management LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $48,000. 70.55% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Marie T. Gallagher sold 7,409 shares of the stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $155.70, for a total value of $1,153,581.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Monday, October 4th. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. The firm had revenue of $20.19 billion during the quarter, compared to analyst estimates of $19.39 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts anticipate that PepsiCo, Inc. will post 6.24 EPS for the current fiscal year.
Several research firms recently weighed in on PEP. Citigroup lifted their price target on PepsiCo from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. UBS Group lifted their price target on PepsiCo from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, October 6th. Royal Bank of Canada lifted their price target on PepsiCo from $153.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 14th. Cowen restated a “buy” rating and set a $165.00 price target on shares of PepsiCo in a research report on Friday, July 9th. Finally, Truist boosted their target price on PepsiCo from $135.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, July 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $162.86.
PepsiCo Company Profile
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.