Cetera Investment Advisers Purchases 3,646 Shares of PepsiCo, Inc. $PEP

Cetera Investment Advisers grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 2nd quarter, Holdings Channel reports. The firm owned 493,490 shares of the company’s stock after purchasing an additional 3,646 shares during the period. Cetera Investment Advisers’ holdings in PepsiCo were worth $65,161,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PEP. Evercore ISI increased their price target on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Bank of America increased their target price on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. UBS Group lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research 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 on the stock in a research note on Monday, September 15th. Finally, Piper Sandler boosted their target price on PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $156.95.

PepsiCo Stock Up 0.6%

Shares of PepsiCo stock opened at $145.85 on Friday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $165.13. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The business’s 50 day simple moving average is $144.95 and its 200 day simple moving average is $140.03. The firm has a market cap of $199.43 billion, a PE ratio of 27.73, a P/E/G ratio of 3.56 and a beta of 0.45.

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

PepsiCo 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.