PepsiCo, Inc. $PEP Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,088 shares of the company’s stock after selling 633 shares during the quarter. Wrapmanager Inc.’s holdings in PepsiCo were worth $936,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in PepsiCo in the 1st quarter valued at about $25,000. Legend Financial Advisors Inc. bought a new stake in shares of PepsiCo during the 2nd quarter worth about $29,000. Frazier Financial Advisors LLC lifted its stake 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 acquiring an additional 122 shares during the period. Investment Research & Advisory Group Inc. boosted its holdings in shares of PepsiCo by 263.6% in the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after acquiring an additional 232 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new position in shares of PepsiCo during the second quarter valued at approximately $45,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.4%

Shares of PEP opened at $145.02 on Friday. The business’s 50-day moving average price is $144.96 and its 200 day moving average price is $139.91. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $198.29 billion, a P/E ratio of 27.57, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $166.88.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same period last year, the firm posted $2.31 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PEP shares. Barclays increased their price target on PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Evercore ISI raised their target price on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 21st. The Goldman Sachs Group upped their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Finally, Cowen reaffirmed a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target 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.