Convergence Financial LLC Sells 701 Shares of PepsiCo, Inc. $PEP

Convergence Financial LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 25.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,089 shares of the company’s stock after selling 701 shares during the quarter. Convergence Financial LLC’s holdings in PepsiCo were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PEP. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the 1st quarter valued at $25,000. Legend Financial Advisors Inc. bought a new stake in PepsiCo in the second quarter worth $29,000. Frazier Financial Advisors LLC boosted its position in PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares during the period. Investment Research & Advisory Group Inc. grew its stake in shares of 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 buying an additional 232 shares during the last quarter. Finally, RMG Wealth Management LLC purchased a new position in shares of PepsiCo in the second quarter worth about $45,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $142.86 on Thursday. The firm has a market capitalization of $195.34 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 3.56 and a beta of 0.46. The stock has a fifty day moving average of $145.53 and a 200 day moving average of $139.73. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $167.41. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PEP. UBS Group dropped their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Royal Bank Of Canada dropped their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research note on Monday, September 15th. BNP Paribas Exane decreased their target price on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, HSBC raised their price target on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $156.95.

PepsiCo Company 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.