Keystone Financial Services Makes New $274,000 Investment in PepsiCo, Inc. $PEP

Keystone Financial Services acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the second quarter, Holdings Channel reports. The fund acquired 2,073 shares of the company’s stock, valued at approximately $274,000.

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

Analyst Ratings Changes

A number of research firms have issued reports on PEP. Royal Bank Of Canada decreased their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a report on Monday, September 15th. Citigroup decreased their price target on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. Cowen reissued a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Jefferies Financial Group upped their price objective on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Finally, Barclays lifted their target price on shares of PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $156.95.

PepsiCo Trading Up 1.0%

NASDAQ:PEP opened at $142.95 on Friday. The stock has a market cap of $195.46 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 3.56 and a beta of 0.45. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company’s 50 day moving average price is $145.31 and its 200-day moving average price is $139.75. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $166.88.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business 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 firm posted $2.31 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

About PepsiCo

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.